Paris-based hedge fund incubation firm NewAlpha Asset Management has provided an undisclosed amount of seed capital to PAMLI Capital Management LLC, a global credit hedge fund run by former Highbridge Capital portfolio manager Faisal Sayed. According to a news release from NewAlpha, PAMLI manages more than $100 million.

With Sayed at PAMLI are Jung Cho, Sayed’s former assistant portfolio manager at Highbridge; Rick Palmon, former portfolio manager in Deutsche Bank’s fixed income proprietary trading group; and Jeremy Shor>, former managing director of Plainfield Asset Management’s Structured Products Investment Group. Thomas DeFrancesch, who worked at Cerberus Capital Management as director of accounting, finance, operations and valuations, serves as PAMLI’s chief operating and chief financial officer, according to NewAlpha.

The investment in PAMLI marks NewAlpha’s 16th seeding arrangement. In May, NewAlpha announced it had seeded a bond fund run by Blue Rice Investment Management, a firm run by former Korea Investment Corp. Chief Investment Officer Guan Ong.

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