The Hedge Fund Veterans Delivering Capital Relief to Banks, With an ESG Twist [BNN Bloomberg (Canada)]
Banco Santander, S.A. Sponsored ADR (Spain) (SAN)
US:NYSE Investor Relations:
santander.com/csgs/satellite/cfwcsancomqp01/en_gb/corporate/shareholders-and-investors.html
Company Research
Source: BNN Bloomberg
Newmarket Capital, a Philadelphia-based alternative asset manager founded by hedge fund veteran Andrew Hohns, has seen a substantial increase in the number of investors in synthetic risk transfers who now want their SRTs to have some form of environmental or social impact. “We've really seen the interest in that aspect of our strategy increase quite a lot,” Molly Whitehouse, a founding member of Newmarket who used to work at hedge fund manager Mariner Investment with Hohns, said in an interview. About 40% of invested capital in Newmarket's flagship SRT fund is now in products with an ESG or impact overlay, she said. The development coincides with a boom in the wider market for SRTs. Since capital requirements started to rise in the years following the 2008 financial crisis, banks have taken to using SRTs to offload part of their credit risk. Buyers of that risk generally get market-beating returns, while banks get to reduce their capital requirements. The global SRT market is set
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