Stockholm (HedgeNordic) – Titan Opportunities Fund, a London-based fund co-founded by Norwegian-born Espen Westeren (pictured), has been listed in the Nordic Hedge Index (NHX). The fund combines cyclical investing experience, distressed investing expertise, and sector specialization to invest in equity- and credit-related securities within cyclical and commodity-related sectors.
Espen Western co-founded Titan Capital Management in 2016 with John DellaNoce, who previously worked with distressed investing at Goldman Sachs from 2006 to 2015. Prior to starting his own shop, Titan Chief Investment Officer Espen Western managed a global diversified investment portfolio at Frontline Corporate Services from 2010 and served as a portfolio manager at HBK Investments between 2007 and 2010. Titan Capital Management is based in London and Oslo.
Titan Opportunities, seeded with long-term capital from Norwegian private equity firm Ubon Partners, manages $94.2 million in assets under management as of the end of April. The fund has returned 63.1 percent since its inception in June 2016 through April 2018, equating to a compound annual return of 29.1 percent. The fund returned 34.6 percent in the first seven months following its launch. In addition to investing in attractively valued energy stocks and bonds, Titan Opportunities also uses the extensive network of its investment team to gain access to private placements and other strategic deals. For instance, the fund acts as an active founding shareholder in two companies: Borr Drilling and 2020 Bulkers.
Despite having returned 63.1 percent in less than two years, the investment team behind Titan Opportunities Fund sees more investment opportunities ahead. “Both the energy and shipping markets have experienced an unprecedented down-cycle. These markets are now under-supplied due to oil company capex declines and 20-year low shipping order books, setting the stage for a cyclical upturn,” Western told HedgeNordic.
“We have assembled a seasoned team of cyclical and distressed investing professionals to maximize this opportunity through a liquid investing strategy in both equities and credit. Our strategy is also differentiated through our established industry network and hands-on approach to investing, as the fund is an active founding shareholder in two unique listed companies,” said Western about the fund’s strategy and investment team.
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