David J. MeneretFounder, Chief Executive Officer, and Chief Investment Officer at Mill Hill Capital
David J. Meneret is the Founder, Chief Executive Officer, and Chief Investment Officer of Mill Hill Capital. The investment adviser, founded in February 2015, focuses on credit relative value investment strategies related to CLOs, Transportation and ABS, RMBS, CMBS, Financials, and IG/HY/CMBX/iTraxx Indices. Mr. Meneret personally created and developed the proprietary cash flow models used by Mill Hill Capital for portfolio construction, portfolio management, and risk management. Mr. Meneret’s unique approach has been refined over the past 19 years thanks to the various portfolio management, structuring, and trading positions he has held.
Prior to establishing Mill Hill Capital, Mr. Meneret was a Senior Managing Director and Senior Portfolio Manager in charge of Securitized Debt and Corporate Financials Trading at Macquarie’s Credit Nexus Fund from 2012 to early 2015, and at Macquarie’s Credit Principal Trading division from late 2008 to 2012. In his role, he managed a team of seven, designed market-neutral relative value trading strategies, and was responsible for all portfolio-level and trade hedges as well as, all capital allocations across CLOs, Non-agency RMBS, ABS CDOs, Aircraft ABS, corporate transportation and Financials, and Esoteric ABS.
Before he joined Macquarie, Mr. Meneret was a senior trader on the Structured Products Proprietary Trading Desk at UBS New York from 2006 to 2008. At UBS, Mr. Meneret managed the ABS CDO, CLO, and Aircraft ABS trading books. Most notably, he was involved in the acquisition of the ABS CDO/CLO cash and synthetic portfolios due to the reconsolidation of Dillon Read’s positions. Mr. Meneret was then promoted and served as co-PM from May 2007 until June 2008, trading CDS and put options on US financials, ABX, CMBX, ABS CDOs and CLOs.
From 2002 to 2006, Mr. Meneret structured Aircraft and Esoteric ABS for Credit Lyonnais Americas and Credit Agricole/Calyon Americas. His responsibilities included the creation, calibration, and execution of the bank’s proprietary cash flow models in order to effectively originate and underwrite risk in the form of securitized debt, bridge facilities, and letters of credit. Mr. Meneret structured the first ever engine-backed Enhanced Equipment Trust Certificate in 2004, and participated in structuring three large aircraft leasing portfolios in 2005-2006.
Mr. Meneret holds a M.S. in Financial Engineering from Columbia University and a M.S. in Industrial Engineering from Ecole Centrale Paris, France.