IM Global Partner, the asset management and distribution arm of the Paris-based iM Square investment platform, has launched the first sub-fund of its French-registered Sicav, the iMDolanMcEniry US Corporate fund, and has delegated its management to US credit specialist Dolan McEniry.
The fund is the first fund launched by iM Global Partner under management delegation.
Composed of an average of 85% US investment grade credit and 15% US high yield credit, the fund has a concentrated portfolio which aims for undervalued bonds whose issuers generate significant and stable cash flows.
Daniel Dolan, co-head of Dolan McEniry, said: "This is the first time that our management expertise has been exported outside the US market within a fund.
“Our choice to welcome iM Square to our capital, allows us to entrust the distribution of our historical expertise to a leading player on the European market.”
Dolan McEniry is 45% owned by iM Square.
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