Founded in 2011 by former Cheyne Capital fund managers Massi Khadjenouri and Jan Lernout, Kite Lake Capital Management is a prominent hedge fund management firm based in London. The firm specializes in event-driven equity and credit strategies, concentrating on opportunities with imminent hard catalysts to maximize returns. Their expertise and strategic focus enable them to navigate complex market situations effectively, delivering value to their investors.
Kite Lake was co-founded by Massi Khadjenouri and Jan Lernout, who worked together at Cheyne Capital from 2005 before launching the KL Special Opportunities Master Fund in February 2011. Their collaboration dates back to their time at Goldman Sachs, where Khadjenouri, investing on a proprietary basis, was a client of Lernout’s, and they co-invested in several deals. Khadjenouri, featured in the 2012 edition of the biennial 'Tomorrow’s Titans' report published in association with EY, has been a key player in the event-driven market for twenty-five years. She started as a proprietary trader at Paribas, joining a team that later became Centaurus Capital, before establishing Cheyne’s event desk. Lernout has also been influential since the late 1990s, during the early days of Europe’s leveraged, stressed, and distressed credit markets.
Kite Lake Capital Management (UK) LLP is a registered investment advisory firm. As of their latest 13F filing for Q1 2024, the firm manages $23,040,978 in 13F securities, with a top 10 holdings concentration of 100%. Their largest holding is UBS Group AG ADR, with 310,227 shares.
