Ironshield Capital Management (Ironshield), a European event-driven corporate credit specialist, delivered positive performance of 30 per cent in 2021.
The firm’s AUM stood at USD308 million as at 31 December 2021, across its three funds: L1 Special Situations, L2 Special Situations and Ironshield Credit Fund – UCITS.
Ironshield’s strategy significantly outperformed high yield credit markets throughout the year, beating the Bloomberg Pan-European High Yield Index which returned 4 per cent, and had low beta to both equity and credit markets. The 2021 performance was generated from a broad range of credits with idiosyncratic price catalysts, across a number of sectors including retail, oil/gas and auto.
Ironshield was founded in 2007 by David Nazar, one of the most experienced investors in European event driven, stressed and distressed credit. The firm invests in credit from companies suffering disruptions such as supply-chain issues, an increase in manufacturing costs or, recently, negative impact to business models due to Covid-19.
Ironshield’s annualised return over 10 years is 8.91 per cent with a Sharpe Ratio of 1.54.