Ex-TowerBrook and H/2 Capital veterans launch new firm
Two industry veterans from TowerBrook Capital Partners and H/2 Capital Partners has set up a new investment firm focusing on credit investing.
D2 Asset Management was launched with more than $1bn (£775m) in assets under management and will focus on asset-based finance, as well as public and private credit across a range of assets, markets and operating companies.
The firm was set up by Luke Doramus, who was previously a partner and managing director at investment group TowerBrook, which spun out of Soros Fund Management in 2005, and Ben Doramus, who was a partner and managing director at hedge fund H/2 Capital Partners.
Previously, Luke Doramus also served as a portfolio manager at LibreMax Capital and was a trader on the structured products trading desk at Deutsche Bank. Ben Doramus was also at Deutsche Bank, working as head of CRE principal trading for North America.
The pair have partnered with Koch Real Estate Investments, based in Dallas, Texas.
The co-founders and managing partners of D2 said: “We are excited and fortunate to launch D2 with one another, leveraging the skill sets we have developed independently during our careers. We also couldn’t ask for a more like-minded partner than Koch Real Estate Investments. We look forward to expanding D2 alongside other extraordinary colleagues and investors that we plan to bring on board in the coming months.”
D2 Asset Management is based in Texas and is looking to “generate compelling returns for its partners across real assets, specialty finance and structured credit”, according to a statement.
As private credit has become more popular, there have been several new firms launched this year.
Caro Investor Management was set up with backing from TPG earlier this month, with a focus on real estate credit. Elsewhere, a management buyout from Tortoise Capital created a new private credit business specialising in lower middle-market loans.
Read more: Riverstone’s credit team launches new energy-focused private credit firm
