Ignis Asset Management and Castle Hill Asset Management have embarked upon a strategic partnership to form a specialist credit manager.

Castle Hill, a specialist credit investment manager, has over $2.0bn of gross assets under management - a figure which includes sub-advisory mandates from Ignis Asset Management invested across two leverage loan portfolios and one long-short credit portfolio.

"Castle Hill Asset Management is thrilled to commence operations with Ignis as our partner," said Brian Bassett, chairman of Castle Hill Asset Management. "Having worked closely with the Ignis staff we are confident that we can benefit from Ignis's strong infrastructure, deep relationships in the market and proven experience in managing joint-venture relationships."

Ignis Asset Management Jonathan Polin, sales and marketing director, added: "We are delighted to be a significant shareholder in Castle Hill, which is an important strategic investment for us in this highly specialist area. Brian and his team have built up an excellent reputation in the market whilst working at Ignis and we are sure they will be successful in managing the assets we have out-sourced to them as well as gathering significant third party assets with us."

Castle Hill has also launched its Total Return Fund, a hedge fund focused on opportunistic credit strategies and capital structure arbitrage.

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