Portfolio Management Team
Lead Portfolio Manager & Co-founder
Portfolio Manager, Co-founder & CEO
MSc in Finance – Stockholm School of Economics
MSc in Finance – Stockholm School of Economics Swedsec and CWMA license.
13+ years of credit investing experience, most recently as Partner at Nordic Credit Partners. Prior to joining NCP, he spent several years working in London for UBS Investment Bank and Park Square Capital, a credit fund with over USD 12bn in assets under management.
15+ years of banking and investment experience. Most recently acting as Head of the advisory office at UBS Wealth Management Sweden. During his career he has advised single and multi family offices, investment companies, tier 2-4 and ultra wealthy individuals to manage their strategies, portfolios, assets and liabilities. Prior to UBS he was with Carnegie Investment Bank, HQ Bank and HQ Fonder.
Ridge Capital Staff
Compliance officer & Sustainability
- ESG Research Analyst
- Head of Business Development
Co-portfolio manager – recruitment triggered as soon as the strategy is soft closed
Proprietary network of advisors:
- Company owners
- High-level Executives
- Private Equity, Hedge Fund, Venture Capital managers
- Industry specialists
- Legal team
The story of Ridge Capital
Christoffer Malmström and Måns Levin, the co-founders of Ridge Capital, bring a wealth of financial expertise and have a strong academic background. With previous roles at respected financial institutions in London, New York, and Stockholm, along with their education at Stockholm School of Economics, they recognized a unique opportunity within the Nordic high yield bond market. This niche market became their focus, leading them to establish Ridge Capital with the goal of providing tailored solutions and expertise to investors in this specific market segment.
Why Ridge Capital?
Our sole strategy is unique and has several edges
Ridge Capital founders analysed all risks embedded in Nordic credit markets and especially the Corporate High Yield listed bonds. They took an uncompromising approach and cleaned up all of the features that were inadequate with this rather inefficient market. This approach led to the launch of the strategy in 2022.
The strategy they assembled gives investors a significantly different exposure than any other investment strategy on Nordic corporate listed High Yield bonds. The strategy has a more defensive exposure. For example, we do not invest in the volatile energy sector which has five times more defaults than other sectors. While at the same time, our different set up allows for higher returns. No cash pocket, pure High Yield exposure, use of moderate leverage, deep credit analysis, focus on one strategy, active management, precious network of friends & advisors.
Our investment team is best-in-class
Our lead portfolio manager has the best track record in Nordic High Yield over the past five years. To get an edge in the financial market, you need to dig deeper. Work harder. You must be prepared to walk more than just an extra mile.
What concretely do we do to find edges?
- we do a real deep credit analysis on every investment we look at, and not just a light Due Diligence relying on the expertise of banks and brokers
- we leverage our network of friends & industry advisors, to find relevant edges in every investment decision we take
- we access this relevant information faster than our peers, which in the Nordic HY market is a significant edge
- we built one of the strongest set ups in the Nordic HY market. This hard-to-get partnerships give us access to a range of sophisticated services our competitors don’t have
- we have a productive and business mindset at Ridge Capital. We ask a lot from stakeholders and collaboration partners, but also give a lot back. We can be reached anytime. We can be very reactive. It’s a clear edge in the Nordics
- we believe in leveraging collective intelligence to make informed decisions
Our interests and values are aligned with investors
The co-founders and owners have real skin in the game. They invested all their available wealth in the strategy and in the management company.
Integrity, accountability, and transparency
These are values Ridge Capital truly believes in. This ensures client interests will always be prioritized. And that investment decisions are made with the utmost diligence.
We believe in team spirit
Our team truly fosters a culture of active teamwork. We believe that a diverse team with different skills is highly beneficial in an environment marked by fast-paced financial markets. The team is convinced that it has a positive impact on investment decisions and portfolio performance optimization.
Our investors’ profile
The strategy is backed by Ultra High Net Worth individuals and 20+ HNW investors and Nordic Single- and Multi Family Offices.
Ridge Capital has engineered the right product for a broad network of Nordic and international investors, including T2-T4 institutions such as pension funds, foundations, family offices, investment companies, fund-of-funds etc.
Some of the investors are precious industry advisors and sector specialists, who give Ridge Capital a real investing edge in the Nordic High Yield market.
References can be arranged by request.
Part of Ridge Capital’s success can be explained by the expertise and guidance of our team of industry advisors. They come from diverse backgrounds, have extensive experience across multiple industries, sectors, and geographies. They bring a wealth of knowledge and strategic insights to our investment decisions. They make it easier for us to navigate complexities and seize promising opportunities in today’s dynamic markets.
Our board in Luxembourg
The career of Mikael Holmberg showcases an impressive track record in the financial industry. He has extensive experience serving on the boards of various companies. He has held key positions in investment firms, family offices, and management companies.
Read more about Mr Holmberg
Mr Holmberg’s expertise extends to private banking, corporate administration, alternative investment fund management, and global media and digital business. Additionally, he has a background in finance, having served in roles such as Managing Director, Chief Financial Officer and Controller.
Based in Luxembourg, he is highly accomplished and brings a wealth of knowledge to his current position as an independent member of the board at Ridge Capital GP S.à r.l. He is a professional investor and has invested in the strategy. Furthermore, Mr Holmberg enjoys tennis, traveling and music, and is married with two grown up children.
Mr Régent is an experienced independent non-executive director with a specialization in asset management, particularly in funds and management companies. With over 20 years of expertise, he excels in areas such as corporate and fund governance, valuation, regulatory matters, investment compliance, risk management, and distribution.
Read more about Mr Régent
Mr Régent holds independent positions on the board of directors of various investment funds, general partners, and investment vehicles, including UCITS funds and alternative funds. Luc has a strong background in audit and fund accounting, having served as an Audit Director at PwC Luxembourg and PwC New York, where he gained exposure to global fund managers and alternative funds.
Luc actively contributes to promoting good governance practices in the asset management industry and holds qualifications from INSEAD, University of Cambridge and SKEMA Management School. He is fluent in French and English. Luc enjoys family outdoor activities such as hiking, biking, and sailing.
Luxembourg resident Kelly Anckenmann is an experienced professional with extensive knowledge of the Luxembourg finance industry. With almost two decades of experience in prestigious companies, she has excelled in business management, legal, and corporate secretarial matters.
Read more about Ms Anckenmann
Kelly has a proven track record of identifying business opportunities and risks. She is skilled in managing multiple projects and roadmaps in the fund management industry. Fluent in French, German, English, and Luxembourgish, Kelly is also a member of Women on Board, LPEA, and LuxREAL. In her free time, she enjoys horseback riding and participating in auto sports.
With the unique toolbox we developed, we aim to deliver equity-like returns with significantly lower risk. Our Nordic listed High Yield bond strategy has superior features, which enables it to stand out among 100+ competing strategies. We have one of the best portfolio managers (number one track-record since 2018). We chose to exclude the highly volatile energy sector. We perform a systematic deep credit analysis, resulting in significantly lower defaults rates. We do active management contrary to competitors who mainly buy and hold bonds until maturity. We apply a moderate leverage to lower the credit risk in the portfolio. We have monthly liquidity for subscriptions and redemptions to control the liquidity risk. We benefit from a proprietary investment network that gives us a significant edge compared to our peers.
Short summary (3m 34s)
Short summary (2m 10s)
Interview (11m 8s)
We settle for nothing less than excellence when we invest. Period.
Cautious risk management
We carefully assess and evaluate risks to ensure that we only undertake those within our comfort level. Our esteemed reputation is an invaluable asset that we deeply value. With a steadfast commitment to longevity, our extensive due diligence processes and meticulous risk management strategies empower us to effectively mitigate potential risks and shield against unfavorable consequences.
Preservation of capital
We diligently oversee and mitigate the risks associated with investing in high yield securities, encompassing credit, interest rate, and liquidity risks, among others. Our primary objective is to provide steadfast, reliable returns while minimizing the potential for adverse outcomes. To achieve this, we employ a range of strategies, including hedging, portfolio diversification, and comprehensive downside risk analysis. These measures enable us to navigate market downturns and protect investors’ capital during periods of heightened volatility or challenging market conditions. We have the flexibility and know-how to utilize hedging products to further fortify our risk management approach.
As credit investors, our approach entails a dual focus. On one hand, we diligently seek out undervalued prices on securities, leveraging our expertise to identify investment opportunities with favorable pricing dynamics. On the other hand, we place equal importance on selecting stable companies with fairly priced bonds. This balanced approach allows us to capture potential value while also prioritizing investments in financially sound and fairly valued entities. By combining these two strategies, we strive to optimize risk-adjusted returns for our clients.
Bottom-up credit and fundamental analysis
Our investment strategy is driven by bottom-up credit analysis and fundamental research. We extensively evaluate the financial health, industry dynamics, and management capabilities of potential investments. Our goal is to select high yield securities with strong individual credit profiles, poised for outperformance. We assess factors such as cash flow generation, debt sustainability, management quality, and competitive positioning.
Capital structure arbitrage and yield curve positioning
We capitalize on capital structure arbitrage and yield curve positioning. This involves investing in different parts of a company’s capital structure to exploit pricing inefficiencies. By engaging in relative value trades within the same issuer, we strive to generate returns. Additionally, we strategically position the portfolio along the yield curve by selectively investing in high yield securities with varying maturities.
Our focus is on generating income for our investors. We construct a robust portfolio of income-generating assets that prioritize stable cash flows. By investing in high yield securities with consistent and attractive coupon payments, we aim to provide predictable income streams.
Active trading on opportunities
Actively seizing opportunities in the market is a key aspect of our approach. We engage in active trading within the secondary market of high yield securities, aiming to capture short-term price movements and leverage market inefficiencies. Our goal is to identify investment opportunities and capitalize on short-term market fluctuations.
Our investment philosophy exhibits a quality bias. We invest in high yield securities issued by companies with stronger credit profiles. We seek issuers with lower default risks and better financial metrics, as this approach helps us build a high yield portfolio that is more resilient and less volatile.
Environmental, social, and governance (ESG) considerations are integrated into our investment process. We prioritize investing in companies that demonstrate genuine responsible and sustainable business practices. This approach allows us to align attractive yield opportunities with ESG principles, contributing to a more sustainable and socially responsible investment portfolio.
Frequently Asked Questions
How can I follow what’s happening at Ridge Capital?
Why is this strategy interesting?
How do I subscribe?
Are the portfolio managers invested in the strategy?
The managers have skin in the game and aligned interest with the other investors and clients and of course they are invested into the strategy. The co-founders have invested a major part of their wealth. The aim is that all employees should be invested in the strategy.
What are the risks?
Market risk, equity market risk, interest rate risk, geographic regional risk, foreign exchange risk, credit risk, risk relating to active management, risks related to securities lending and repurchase, and reverse repurchase transactions, risks related to the use of financial derivative instruments, risks relating specifically to investments in other strategies, covered bond risk, inflation risk, risk and liquidity management, leverage, risks typically associated with unusual market conditions, counterparty risk, liquidity risk, operational risk, custody risks, default risk. In addition to the above specific risk factors, please consider the general section entitled “risk factors” in the prospectus.
What are the costs?
Please contact us for Monthly reports, KID, Prospectus