Wiltshire, PCE Launch Distressed Corporate Credit Fund

Nov 16 2010 | 1:46pm ET

Wiltshire Capital and PCE have launched a new credit hedge fund, backed by a major Australian bank.

The Wiltshire Credit Opportunities Fund is targeting 15% annual returns. The fund is managed by Wiltshire founder John Sullivan, with PCE providing infrastructure, risk management, compliance, fundraising and regulatory support. PCE—which is registered with both U.S. and British regulators—will also serve as the appointed manager of the fund.

The fund will invest in mispriced and distressed high-yield European corporate debt.

"Debt markets have grown substantially in the last ten to 15 years and offer a wide selection of investment opportunities across the capital structure and in a broad range of industries and geographies," Sullivan told HedgeWeek. "At the same time the current economic climate and continuing fallout from the global financial crisis has created some compelling opportunities in these markets, making it an ideal time to launch a fund like Wiltshire Credit Opportunities Fund that specializes in these assets."

NabInvest, National Australia Bank's asset management arm, has seeded the new fund.

Merrill Lynch International is the new fund's prime broker and Quintillion is its administrator.

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…