CHALLENGER MANAGEMENT LIMITED
Challenger was established in 2015 by Paul Taberer, Charles Taberer and Gary Isbister. With a focus on emerging markets, and a bias towards Africa and Latam, Challenger focuses on financing commodity traders and businesses involved in the buying and selling of commodities in these markets. With a clear focus on transparency and adhering to a core principle of operational oversight, our aim is to generate a high-yielding return that is uncorrelated to other major asset classes.
INVESTMENT TEAM
Investment committee:
Paul Taberer
Gary Isbister CA(SA), CFA
Charles Taberer
Matt Lane CA(SA), CFA
Miguel Richards
Operations and finance:
Krishanta Roskin
Theeroshnee Govinder
Kelly Oberholster
Phindile Ngcobo
Petia Skvorikova O’Donoghue
Latam origination team:
Miguel Richards
Maximo Tovagliari
Fernando Torres
Africa origination team:
Matt Lane
Iain Sykes
Investment Terms
Fund: The Challenger Trade Finance Segregated Portfolio
Hurdle rate: 5% with look back to zero
High water mark: Yes
Fund open: Yes
Minimum Investment: $100,000
Management fee: 2% *
Performance fee: 20% *
Subscription: Monthly
Lockup: No
Redemption: Calendar quarter with 90 days' notice
* Negotiable
Strategy
Investment strategy
The fund invests in collateralised, short-dated trade finance transactions. Our aim is to maintain control and ownership of the collateral through each back-to-back trade to significantly mitigate risk of default. The short duration of each underlying transaction means that the fund will experience high volumes of cashflows monthly. This level of cashflows allows the fund to crystallise returns regularly as well as to meet liquidity requirements as mandated.
Strategy: Private credit - trade finance
AUM: $100 million
Currency: US dollars
Domicile: Caymen
Inception date: 1 November 2015
Target return: 10% per annum, net of all fees
Total deployed: USD $1bn
Service Providers
Bank: Citibank Singapore
Administrator: Apex Group
Management company: Challenger Management Limited
Auditor: Deloitte & Touche
Legal advisor: Harney Westwoord & Riegels LLP
Operations: Tabis Trade Solutions (Pty) Ltd
Contact Info
Investment advisor
Challenger Management Limited
Office 2, Iconebene, Lot B441, Rue de L’Institut,
Ebene, Mauritius
Chief investment officer: Gary Isbister
Portfolio manager (Latam): Miguel Richards
Portfolio manager (Africa): Matt Lane
Contact email: mattl@challengerml.com
Website: www.challengerml.com
ISN or ref code: KYG827792196