Thursday, 18 December 2014
Last updated 9 hours ago
May 14 2010 | 9:19am ET
A pair of Lehman Brothers veterans has launched an Asian structured credit hedge fund.
Leon Hindle and Fredric Teng’s Oracle Investment Fund debuted this week. Aimed at U.S. investors, the fund seeks to buy structured products from Asian banks that want to unload them as the market recovers. The fund will buy collateralized debt and loan obligations as well as credit-linked notes, backed by corporate credit. Oracle plans to shy away from mortgage-backed securities.
Hong Kong-based Oracle Capital aims to raise US$50 million for the fund and a planned second fund—targeted at non-U.S. investors—that will launch in June, Bloomberg News reports. Both funds will have a five-year lifespan and are targeting 20% annual returns.
To get those hoped-for returns, however, investors will have to accept a one-year lockup. The Oracle fund will feature monthly liquidity thereafter.
Among the fund’s early investors are some Asian institutions and other former Lehman executives.
Hindle served as head of structured credit and CDOs in the Asia-Pacific region at Lehman, while Teng was head of its Asia-Pacific fixed-income syndicate.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.