Zug-based Woodman Asset Management has partnered with Boston-based investment firm ILA Capital to launch a fund based on machine learning and marketplace lending.
The strategy, which has an initial $100 million commitment (CHF 96.7 million), will invest in secured and unsecured loans. It will aim to have a short duration and a high yield, to capitalise on the marketplace lending theme.
Woodman Group founder and CEO, Daniel Aaxman, said: ‘With ILA, Woodman will provide a unique opportunity to deliver true innovation to our clients in the fixed income and alternative investment space.’
ILA Capital, which was founded in 2015 by Harvard Business School professors Chris Malloy and Lauren Cohen, uses an investment approach which improves loan selection and understands borrower behaviour to manage risk more effectively.