Tuesday, 21 October 2014
Last updated 2 hours ago
Jul 24 2012 | 9:35am ET
Phoenix Investment Adviser has secured a $40 million seed investment for its JLP Institutional Credit Fund from a large European institution.
The fund launched on Jan. 1, 2011 with $3.5 million of employee capital, and the additional investment brings the fund's total assets to approximately $55 million.
According to the firm, “This investment highlights institutional interest in fixed income strategies that will allow them to earn yield in this environment, without exposure to the volatility characteristic to high-yield funds.”
Phoenix, which now has more than $500 million is assets under management, is best known for its flagship JLP Credit Opportunity Fund, which has a nine-year track record investing in deeply discounted, stressed bonds that it believes will avoid bankruptcy. The JLP Institutional Credit Fund follows the same deep value, fundamental process, but is focused on senior secured, higher quality bonds of the same or similar companies in the flagship vehicle. The Institutional Credit Fund also has a substantial short book and market hedges that aims to limit downside and volatility.
The new vehicle is designed for pension managers, endowments, fund of funds, and other institutions seeking access to superior high yield corporate credit returns without the volatility often associated with the asset class.
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…
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