Wednesday, 22 October 2014
Last updated 16 hours ago
Jan 12 2012 | 5:15am ET
Hedge fund Avenue Capital Group's second European distressed debt private equity fund is well on its way to its $2.5 billion capacity.
The firm has raised $2.1 billion for its Europe Special Situations Fund II as of its fourth closing, on Dec. 22, Bloomberg News reports. Avenue said the fund will seek to profit from opportunities stemming from Europe's sovereign debt crisis and from the continent's banks' need to shed some of their huge debt holdings.
The new fund will focus on northern European senior secured debt, equities or other distressed assets, and will be managed by Avenue's London team. It has a five-year term that could be extended to seven, marketing materials show.
Interested parties will have to pony up at least €10 million to invest in the fund.
Avenue's first European distressed p.e. fund launched four years ago with €1 billion and has enjoyed an 18.3% internal rate of return.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...