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Important information

This website is provided by Blackbeard Asset Management Ltd (“Blackbeard”). Blackbeard is authorized as an AIFM by the Cyprus Securities and Exchange Commission, license no.: AIFM62/56/2013 dd. 29/04/2024. Our registered address is 224 Arch. Makarios III Ave., 3rd floor, office 32, 3030 Limassol, Cyprus.

Investments in funds managed by Blackbeard are reserved for Well-Informed and Professional Investors only. By continuing to use this website, you are hereby agreeing to our Terms and Conditions.

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What We Do

Emerging and Frontier Market Credit, Done Differently

We invest in public and private sub-investment-grade credit across emerging and frontier markets, with selective allocations to developed Europe
Focused on deep value, high-yield, distressed, and event-driven credit as well as special situations
Each investment is a story – we guide it from complexity to clarity, start to finish

Why It Matters

Where Others Step Back, We Step In

Our edge lies in scale-constrained, underfollowed markets where alpha is still achievable
Local knowledge + disciplined global perspective = better-informed risk-taking
Credit isn’t just an asset class — it’s a source of enduring, risk-adjusted returns

Why Work With Us

Specialist Team. Institutional Platform. Proven Execution.

Founded by Ruslan Patlavsky, with 15+ years of EM credit experience
Multidisciplinary team, spanning credit research, restructuring, risk, compliance, and investor relations
Regulated AIFM under CySEC (license no.: AIFM62/56/2013 dd. 29/04/2024), managing a Luxembourg-domiciled RAIF
Aligned, transparent, and built to meet institutional standards

"Everyone has a role. Ours is investing. At Blackbeard, we focus exclusively on credit - a discipline that demands experience, insight, and precision. Over the years, we’ve developed deep expertise in complex, overlooked markets where value isn't obvious - it’s earned. We don’t chase risk, we navigate it - with purpose, structure, and patience. Our job is to turn complexity into opportunity, and uncertainty into long-term, sustainable outcomes."

Ruslan Patlavsky

Chief Investment Officer, Managing Director

Discover more About us

Investment Strategies

Blackbeard EM High Yield Bonds Fund

Objective: Deliver long-term capital growth through high-yield, sub-investment-grade credit exposure

Liquidity: No lock-up; quarterly subscriptions and monthly redemptions

Benchmark: Bloomberg Global High Yield Index (USD hedged)

Key Characteristics:

Publicly listed corporate and sovereign bonds
Focus on smaller, underfollowed issuers often ignored by large managers
Emphasis on income generation with opportunistic capital gains
Exposure primarily to Africa, Latin America, and Central & Eastern Europe
Designed for well-informed and professional investors

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Blackbeard EM Distressed Credit & Special Situations Fund

Objective: Capture deep value and recovery upside in stressed, defaulted, and post-restructuring credit

Liquidity: 12–36 months lock-up depending on share class

Benchmark: None (absolute return, net of high watermark)

Key Characteristics:

Public and private corporate and sovereign distressed credit and post-restructuring equity
Active engagement with restructuring processes
Exposure primarily to Africa, Latin America, and Central & Eastern Europe
Designed for well-informed and professional investors

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CLICK HERE FOR INFORMATION REGARDING RISK DISCLOSURES ASSOCIATED WITH OUR STRATEGIES

Portfolio Manager

Ruslan Patlavsky

Managing Director and Chief Investment Officer

Our Team

Everything at Blackbeard starts and ends with our people. We strive to build a flat structure with open lines of communication and transparency aimed at sustaining a healthy, entrepreneurial, and committed work environment.

We are at the beginning of our journey and our future will inevitably be full of ups and downs. There will be always room for improvement and growth in every aspect of our business. Our dedication to constant improvement for the benefit of our clients will be relentless.