TT International (TT), an alpha-driven specialist investment manager, has announced the launch of the TT Credit Opportunities strategy on its Irish Ucits platform, following the recent merger from a Luxembourg Ucits.
The strategy uses an opportunistic fundamental approach, with an emphasis on catalyst-driven corporate credit situations across Europe, according to a statement by the manager.
It specialises in credits that often lack coverage from prominent brokerage houses and rating agencies, seeking to profit from mispriced risk in overlooked market segments. It has a particular focus on high-yield bonds, where size and liquidity constraints reduce competition.
Eric Mackay, managing director, TT International, said: “As with our entire alpha-centric product range, we believe the strategy has competitive advantages that will help our clients achieve their investment goals.”
Portfolio manager, Barend Pennings, incepted the original strategy (previously known as Pareturn – Gladwyne Absolute Credit) in 2015. Pennings and the team joined TT in January 2024, bringing the strategy with them.
The Luxembourg version of the fund came under TT’s management in March 2024 and was merged onto TT’s Irish Ucits platform in January 2025. During the past year, the team has fully integrated into TT International.
Prior to founding Gladwyne Investments in 2009, Pennings was a managing director and portfolio manager at Goldman Sachs, having worked there for eight years. He is supported by deputy portfolio manager, Jan Mroczkowski, who worked at Centerbridge Partners and Capstone Investment Advisors, after being an investment banking analyst at Goldman Sachs.
Headquartered in London, with offices in Hong Kong, New York and Tokyo, TT is fully owned by Sumitomo Mitsui Financial Group.
