Polen Capital and Brazilian money manager XP Asset Management have set up a joint venture, Summit Ridge Capital Partners, to invest in Latin America opportunistic alternative credit strategy, a news release said.
A Polen spokesman declined comment beyond the release. At the same time, the venture launched its first fund, Summit Ridge Capital Partners Fund I.
Leading the firm are Managing Partner Christopher Park, formerly head of structured investments at Chilean asset manager Moneda Asset Management; Managing Partner Ignacio Guzman, who had been a director of emerging markets and special situations at Deutsche Bank; and Gregorio Velasco, former head of fixed income at Chilean insurer and employee benefits company BCI Asset Management Administradora General de Fondos.
