New venture for outgoing Head of Equities at Credit Suisse

Nick Selvaratnam, the outgoing head of equities at Credit Suisse, has co-founded a new boutique absolute return manager, Dalton Street Capital, with former Credit Suisse colleague, Alan Sheen.

Commenting on the new venture, Selvaratnam said: "We are offering an absolute return solution for investors and superannuants seeking an alternative to relative returns investing. Furthermore, 25 years after super legislation was introduced, we are now seeing a bow-wave of superannuants shifting from accumulation phase to retirement phase. Our strategy offers an option to this group as it does for investors requiring absolute returns in a low return environment."

Dalton Street Capital has also partnered with Prodigy Investment Partners Limited (Prodigy), a joint venture between Euroz Limited and Steve Tucker.

In an announcement to the ASX on 31 May 2016, Sheen said of the partnership: "We are delighted to be teaming up with Prodigy and look forward to establishing a strong presence in the alternative investment and specifically absolute return market. Prodigy brings an innovative business model, infrastructure, capital and distribution capabilities which will provide a strong platform for the Dalton Street business."

Selvaratnam will join Sheen at the firm in July once he finishes up with Credit Suisse.