Wednesday, 30 July 2014
Last updated 10 hours ago
Mar 23 2010 | 12:24pm ET
Tennenbaum Capital Partners hopes to raise $1 billion for a distressed debt hedge fund.
The Santa Monica, Calif.-based firm aims to complete the first round of fundraising for the new vehicle within three months, Bloomberg News reports.
Tennenbaum raised $454 million in December for a debtor-in-possession financing fund, which targets loans of about $10 million.
Tennenbaum’s Opportunities V fund was the fifth-best performer among all hedge funds through the first three quarters of last year, according to Bloomberg Markets.
"We have the ability to make investments up to $250 million in private and public companies through open-market purchases and privately negotiated transactions," states the firm's Web site.
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…