Elmwood Asset Management's UK entity (ELMWOOD ASSET MANAGEMENT UK LIMITED) has received direct authorisation from the UK's Financial Conduct Authority, effective 12 January 2026.
Elmwood Asset Management is an investment manager that runs global performing corporate credit strategies, including managing US and European collateralised loan obligation (CLO) portfolios. The New York-based firm was launched in 2018 with backing from US fund manager Elliott Investment Management.
The newly authorised UK entity has FCA permissions related to investments and is a MiFID firm, appearing on the FCA register of active firms providing MiFID investment services or activities.
Source: Elmwood Asset Management website, captured 19 January 2026.
It incorporated its UK entity in March 2025, with former BlackRock portfolio manager Aly Hirji joining as the firm's Head of European Credit in June. As of 12 January 2026, Hirji takes on the SMF1 Chief Executive role, serving as head of the firm's London office in Marylebone.
Hirji previously launched BlackRock's European CLO and leveraged loan businesses, building the franchise to more than €8bn of AUM across CLO and loan strategies.
Former Barclays banker Michael Clarke joined as Head of European CLO Capital Markets in June 2025. Prior to Elmwood, he built and led Barclays' European CLO trading and primary issuance franchise, later running origination and distribution for European credit and financing solutions. Clarke serves as deputy head of the London office.
Head of Compliance Cameron Ramsay joined the firm in September 2025, now officially holding the SMF16 Compliance Oversight and SMF17 Money Laundering Reporting Officer (MLRO) roles. He was previously the European investment compliance lead for Oaktree Capital Management performing credit, private debt, and private equity groups.
Elmwood is led by New York-based President, CEO and CIO Brian McNamara, who was previously a portfolio manager at GoldenTree Asset Management and started at Elmwood in 2018.
