Phoenix Plans Distressed Equities Fund

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.

Q&A with FINalternatives: Phoenix Rises In The Ranks Of Distressed Securities Funds


In Depth

Q&A: Pantheon’s McCrary Says Private Equity Market ‘Robust’

Dec 17 2014 | 8:32am ET

Dennis McCrary is a partner at Pantheon, a private equity firm with $32.2 billion...

Lifestyle

Cohen Donates $1.5M To GOP Governors Association

Dec 10 2014 | 7:13am ET

The Republican Governors Association raised close to $25 million from October 1...

Guest Contributor

Q&A With Daniel Gallancy: Institutional Interest In Bitcoin Is Growing Steadily

Dec 12 2014 | 7:54am ET

Daniel Gallancy is founder and CEO of SolidX, a provider of total return swaps for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

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.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.