Nomura and Aventus Capital Inc., an insurance and asset management firm backed by CC Capital, set up a platform to offer investors access to securitized products and private credit, as money managers increasingly turn to higher-yielding corners of the debt market.
Their joint venture, Misura, will also focus initially on special situations including opportunities within the investment-grade market. The platform is set to start with roughly $1 billion in capital raised from global institutional clients, according to people familiar with the matter.
Aventus Capital Inc., previously known as Westaim, is backed by CC Capital, which was founded by former Blackstone Inc. rainmaker Chinh Chu in 2016, according to the company’s website. Chu spent 25 years of his career in various leadership roles for Blackstone, including a stint as co-head of private equity.
“This partnership brings together the flexibility and capabilities of a specialist investment manager with the sourcing reach of a global investment bank to create a highly differentiated credit platform,” Chu said in a statement.
Misura will operate as an investment adviser registered under the US Securities and Exchange Commission. Andrew Rabinowitz, who had spent about two decades at Marathon Asset Management and was a senior partner at 26North, is Misura Asset Management’s chief executive officer.