KKV Investment Management, founded by Dawn Kendall, Ariel Vegoda and Kvika Securities, has launched with £390m assets under management.
Kendall and Vegoda will run the firm as co-heads from its headquarters in London. KKV employs an additional 17 people.
Kendall has 34 years' experience and previously worked at TwentyFour Asset Management, head of fixed income at Architas, as well as a portfolio manager at Investec Wealth, Newton, Axa and Cofelouf Trust.
Vegoda has 15 years' experience within legal operations and has previously been a chief operating officer.
KKV's investment strategy is to lend to and build stronger and more sustainable businesses in order to provide consistent income for investors and shareholders across multiple economic cycles.
It said it would focus on downside risk in credit selection, seeking to invest in non-cyclical businesses which are defensive in all market environments.
Kendall said: "Launching with such a significant AUM in a challenging macro environment is a testament to the hard work of the team and our significant growth aspirations.
"As we grow, we'll strive to continue our record of developing successful, market leading companies, being their lending partner of choice."
Additionally, it will act as portfolio manager of the SQN Asset Finance Income fund. KKV said it would manage the portfolio under the existing investment policy with a focus on secured lending to the low to mid-market SME sector seeking to deliver gross yields of 9%.
The investment management business is a 100% owned subsidiary of Kvika Banki, a Nordic bank listed on the Nasdaq Iceland main market.