Credit Hedge Fund Start-up

Launch fast, trade smart.

The client is a credit boutique specialising in fixed income, founded by a team that refined its expertise managing the credit portfolio of a major European single-family office. Its investment process is defined by a rigorous, bottom-up approach to credit selection that demands active, hands-on trading, often in less liquid or complex market segments. The flagship fund launched in June 2025, pairing research-driven credit selection with a top-down macro framework for risk.

The mandate. As a new fund entering the deeply fragmented credit bond market, the firm faced a significant operational hurdle. A traditional setup, requiring individual legal and technical onboarding with dozens of banks and venues, presented prohibitive barriers: it would consume critical resources, delay the launch, and divert focus from the core strategy. The firm needed a nimble solution delivering the market reach and execution power of a large institution without the cost, complexity and time-to-market.

The solution. The firm implemented a modern cloud-based OMS pre-integrated with Bloomberg TSOX, the on-terminal buy-side fixed-income EMS, and reached Ediphy via its browser-based webapp and via the TSOX leave-code EDI. This leap-frogged the team into a fully operational trading environment using familiar workflows and institutional-grade liquidity access. Orders are staged in TSOX, routed to Ediphy with a single click or multi-select, swept across an aggregated dealer and venue network for best price, and flow back into the OMS in real time for post-trade processing and settlement.

The outcome. The firm launched on schedule with a best-in-class, scalable execution capability. It dramatically reduced time to market, achieved superior execution by accessing a wider liquidity pool, and freed its investment team to focus on alpha generation. A single legal onboarding replaced dozens of individual agreements, and a single counterparty relationship collapsed the post-trade workflow, reducing operational overhead and the risk of settlement delays and failures.