TwentyFour Asset Management

TwentyFour Asset Management

TwentyFour Asset Management was established in London in 1999 by a team of credit specialists including John hicock, Gary Moglione, and Mark Holman. The firm was founded to focus exclusively on the European securitized and asset-backed credit markets, a niche that was then under-researched by mainstream asset managers. Its founding coincides with the early maturation of the European securitization market. The firm invests across the capital structure of securitized products, including investment-grade and high-yield tranches of residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS), asset-backed securities (ABS), and collateralized loan obligations (CLOs). It also runs a private credit strategy targeting direct lending. Its investment process is bottom-up, focusing on cash-flow analysis and structural protections. The firm's client base includes institutional investors, pension funds, and insurance companies across Europe. TwentyFour employs around 130 professionals, with the majority based in London. The firm's investment team includes David Norris, head of credit, and other veterans from the structured finance sector. In November 2015, TwentyFour listed on the London Stock Exchange's Main Market via an initial public offering (IPO), raising gross proceeds of £50 million (per IPO prospectus, 2015). In September 2020, Vontobel Holding AG announced the acquisition of TwentyFour for a total consideration of £400 million (per Vontobel press release, September 2020). TwentyFour's structural differentiator is its specialized focus on asset-backed and structured credit — a highly technical, data-intensive asset class that requires deep analytical resources and consistent market access. Unlike many multi-asset credit managers, TwentyFour maintains a discipline of investing only in securities that offer structural protections and cash-flow transparency, which the firm argues reduces correlation with broad economic cycles.