Episode summary
From Hedge Fund Roots to Alternative Credit Leadership: Soraya Chabarek, President & CEO, MCQS
Money Maze Podcast
· · 49 min · Guests: Soraya Chabarek
Summary
Soraya Chabarek describes a career built on early work in finance, strong mentorship, and repeated “sliding door” moments that took her from HSBC to Permal, then GLG, Moore Capital and ultimately CQS. She says she did not set out to join hedge funds, but learned distribution by building trust with clients, especially in the Middle East, and by understanding what different investors were actually trying to solve for. She argues that the best hedge fund talent often shares a belief in what is possible, even when others see limits.
She also explains how CQS was transformed from a founder-led hedge fund business into a more institutional alternative credit platform. Soraya says the firm focused on repeatable process, diversified people and products, and a credit strategy that could answer institutional demand for income. After the Manulife transaction, she says CQS preserved its culture and investment autonomy while growing from $14 billion to $18.5 billion and keeping every consultant rating.
On markets, Soraya is cautious about private credit and says liquidity is paramount. She views AI as useful for automation and data gathering, but not a substitute for human judgment in underwriting or selling. Her final message to young hires is that grit, humility and the ability to make connections matter more than credentials alone.
Key takeaways
- Soraya Chabarek says her path into hedge funds came through internships, client work and mentorship, not a preset plan to join the industry.
- She says the best hedge fund managers share a pursuit of “the possible” and a strong belief in meritocracy.
- Soraya argues CQS had to move from a star-led hedge fund model to a repeatable, institutional credit platform to scale.
- She says more than 50% of Manulife CQS now sits in liquid credit, and the firm manages $18.5 billion, including $10 billion in multiasset credit solutions.
- On private credit, Soraya says the key risk is too much capital chasing the asset class, while liquidity remains paramount.
- She says AI can help with research automation, but human insight still matters most in underwriting and distribution.
Notable quotes
“They don't really see impossible. They see possible. This is absolutely possible. How can I get it done”
“I think liquidity is paramount right now”
“I actually believe the opposite. Of course, it would be wonderful to be more well-rounded”
“the one thing they have in common is this pursuit of the possible”
How the episode opens
They don't really see impossible. They see possible. This is absolutely possible.
How can I get it done? You know, without sort of pushing the boundaries out too far. But if you're always in pursuit of the possible, you are evolving.
You're getting better. And you are creating new revenue streams, new opportunities, etc. The majority of what we do though in the private world is very much what we call self-liquidating private assets.
So those are assets that are private in nature. their 3 to 5 year lockup, but because they throw off quite a large amount of income on a quarterly basis, they self amatize. I find it quite difficult to say or or know how a portfolio manager will look into a crystal ball and be able to work out what company will survive the next 10 years and come good.
I think liquidity is paramount right now. You know, some people give you advice you need to be more well-rounded. You need to know a lot more.
I actually believe the opposite. Of course, it would be wonderful to be more well-rounded. I wish I was a lot more clever than I am.
I wish I had many more skills than I have, but the reality is is having the a skill and homing that in and being the best at that. Focusing on that, I think is is is a formula to to success.
If female leaders in finance are gradually becoming more usual, that cannot be said of most of the alternatives industry. But as the private markets and alternative firms combine and cooperate with the more traditional investment organizations, so their leaders, styles, and backgrounds reflect a changing topography. If you've worked alongside some of the most well-known hedge fund owners, helped build their businesses, and managed the associated turbulence and egos, and then become the CEO of a hedge fund that combines with a major financial institution, it's highly probable you have navigated those businesses with skill, dexterity, and success.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- alternative credit
- hedge fund performance
- private credit risks and opportunities
- ai and research in investing
- women in finance
Companies and tickers mentioned
- MFC
- MCQS
- GLG
- Moore Capital
- CQS
- Manulife
Watch the episode
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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