Thursday, 18 December 2014
Last updated 13 hours ago
Mar 11 2011 | 11:54am ET
Another hedge fund from Phoenix Investment Adviser is rising. The New York-based firm is preparing to roll out a distressed equities fund next month.
Phoenix has been running the new strategy internally since November 2009, HFMWeek reports. The new fund, which will have an initial capacity of $200 million, will serve as an equities pendant to the firm's existing JLP Credit Opportunity Fund, which invests in distressed debt.
"We feel now is an appropriate time to focus on the equities of these companies because we feel there is more potential upside that in their bonds," Jeff Peskind, chief investment officer, said.
The new fund, JLP Partners, has returned 21.37% this year. Last year, the strategy rose 56.4%.
Phoenix currently has about $275 million in assets under management.
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.