Friday, 29 May 2015
Last updated 18 hours ago
Feb 12 2010 | 5:44am ET
While a lot of hedge fund firms are rushing to close their distressed debt funds, Avenue Capital Group is launching one.
The New York-based firm, which has about $18.5 billion in assets, is currently fundraising for the new vehicle. Avenue expects to raise about $3 billion for the fund, Bloomberg News reports. Fundraising is expected to be finished within three months.
Avenue’s move is counter the recent trend: BlueMountain Capital Management, Highland Capital Management and Silverback Asset Management have all begun unwinding distressed debt funds over the last few months.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…