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Investcorp-Tages backs DSC Meridian's Climate Action Fund


LONDON, April 23, 2021 (GLOBE NEWSWIRE) -- Investcorp-Tages, a global multi-manager investment firm that was created as a joint venture between Investcorp and Tages, has announced that it backed the launch of DSC Meridian's Climate Action Fund (CAF). It's the first distressed and event-driven credit hedge fund investing with environmental, social, and governance goals and builds on the success of DSC Meridian's flagship Credit Opportunities Fund, notably by adding an ESG overlay with a focus on decarbonisation.

DSC Meridian is a specialist corporate credit investment manager with a focus on distressed and event-driven credit securities. The firm is one of the first U.S. based distressed and event-driven credit managers to analyse and incorporate material ESG risk factors. Through corporate engagement, DSC Meridian seeks to improve overall risk management, unlock idiosyncratic ESG value, and align portfolio companies with the science-based climate standards set by the Paris Climate Agreement and UNPRI.

To lead this effort, DSC Meridian has appointed Paula Luff, an experienced sustainable finance, corporate engagement, and ESG professional, as Director of ESG Research and Engagement. Luff is a veteran leader in developing and integrating sustainability programs at multi-national corporations in the pharmaceutical and energy industries. She joins DSC Meridian from Inherent Group, where she directed the development of an ESG platform for the investment manager and led numerous corporate engagements.

Salvatore Cordaro, Co-CEO of Investcorp-Tages, said: "We are excited to partner with DSC Meridian and its mission to direct capital toward a more sustainable future. DSC Meridian's size and deep credit expertise provide it with an advantage in flexibility and access, both of which are key to driving not only its ESG focused mission but its mandate to investors as a responsible steward of capital.

"At Investcorp-Tages we pride ourselves on our commitment to ESG and impact investing and we are convinced that our seeding practice is a powerful tool in this regard. With firmwide ESG integration and the most recent launch of the CAF, DSC Meridian is a prime example of this. Through the allocation of seed capital we are able to support a uniquely qualified and highly driven team in bringing an ESG focus to an area where it has long been needed."

Sheru Chowdhry, Founder and Chief Investment Officer of DSC Meridian, said: "We believe this is the right time to engage with high yield companies on ESG and sustainability issues and we are delighted that a high caliber organization such as Investcorp-Tages shares this belief."

About Investcorp-Tages

Investcorp-Tages is a global multi-manager investment firm that was launched in May 2020 through a 50/50 joint venture between Investcorp and Tages Group. With offices based in London, New York and Milan, Investcorp-Tages manages alternative assets for institutional investors worldwide, including pension funds, sovereign wealth funds, foundations, endowments, family offices, insurance companies and other financial institutions. Investcorp-Tages focuses on providing bespoke solutions by delivering differentiated sources of returns across alternative assets for its clients.

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About DSC Meridian

DSC Meridian Capital LP is an opportunistic, event-driven credit investment firm founded in 2018 by Sheru Chowdhry, the former Head of Credit Research & Co-Portfolio Manager of the Paulson Credit Fund (2004-2017). Chowdhry oversaw a multi-billion dollar credit portfolio through multiple credit cycles and led the creditor committees of some of the largest bankruptcies following the global financial crisis. The firm integrates material ESG factors and pursues active corporate engagement to help shape positive ESG-related outcomes.

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