Wednesday, 30 July 2014
Last updated 6 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…