London based financial services firm launches new asset management division

Specialist financial situation and restructuring firm Cork Gully has announced the launch of a new international asset management division to provide support for managers and investors in challenged funds, alongside announcing new offices in the Channel Islands.

Headquartered in London, Cork Gully is the firm notable for having been engaged by one of the larger investor groups in relation to the failed private equity group, Abraaj. It is also the longest-standing restructuring and insolvency advisory firm in the UK.

Cork Gully, which is primarily focused on business transformation, restructuring, and special situations, has now launched an asset management division to additionally advise and manage challenged and tail-end investment funds. The asset management division will specialise in helping funds through a crisis, solving liquidity issues, and resolving disputes.

The firm’s new asset management division will advise and manage regulated and unregulated investment funds, as either sub-advisors or replacement managers, leveraging the firm’s 100+ years’ experience in restructuring and special situations.

Cork Gully partners have also previously taken executive roles including CRO, CEO, CFO and COO and independent directors. Most recently, being appointed as directors of Redcar Bulk Terminal Limited by a syndicate of Thai banks owed excess of $1bn. The firm also opened new offices in Jersey, Guernsey, and the Cayman Islands.

Stephen Cork, who is managing partner, and great grandson of original founder William Henry Cork, commented: “We are delighted to be launching the new division, which will enable us to advise and manage challenged and tail-end funds leveraging our experience in restructuring and special situations.

“Our team has extensive experience in restructuring and special situations, and we believe that this new service will allow us to offer a highly specialised service to investment managers and investors with us acting as sub-advisors and successor asset managers.”

By Matthew Neville – Senior Correspondent, Bdaily

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