Former Blackstone executive Vlado Spasov has launched a new credit and special situations-focused alternative manager backed by $1.5bn (£1.12bn) of assets under management.
The London-headquartered firm, Trimontium, will invest across credit and special situations, while also originating and executing tailored financing solutions for corporates across debt, hybrid and equity capital. Its strategy spans special situations, structured and asset-backed credit, as well as asset classes including intellectual property rights and royalties.
According to Trimontium, the firm is backed by institutional partners in the US, Canada, Asia and Australia, which collectively manage more than $15tn in assets.
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Spasov, founder and chief investment officer of Trimontium, previously held senior investment roles at alternative asset management giants Blackstone and Ares Management, where he focused on special situations and opportunistic credit strategies.
“I have long held the conviction that flexible capital is one of the most undersupplied areas of the market,” said Spasov. “The gap between traditional sources of funding is large, widening, and increasingly underserved.
“We purpose-built Trimontium to provide companies with high-quality, customised capital solutions where conventional financing falls short – spanning the full capital structure from senior debt and hybrid instruments to preferred equity.”
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The firm said that, alongside its London headquarters, it has a presence in Luxembourg and plans to expand into New York.
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