Friday, 22 May 2015
Last updated 1 hour ago
Aug 1 2007 | 12:07pm ET
U.K.-based PSource Capital Group is taking on the sinking credit market with a new offering. The firm this week raised £30 million (US$61 million) on the London Stock Exchange for its PSource Structured Debt Limited, a structured debt hedge fund.
PSource Structured Debt will be managed by New York-based Laurus Capital Management and follows a similar strategy to the Laurus Master Fund, investing in secured loans made primarily to publicly-listed North American micro-cap growth companies, according to the firm. The fund is targeting annual returns of 10% to 15%. It is listed under the Financial Service Authority's Chapter 15 rules, which are more stringent than the FSA’s Chapter 14 rules that most alternative investment funds listed under.
“The best alternative products can offer far better risk/reward profiles than more traditional asset classes,” said Soondra Appavoo, managing director of PSource. “London’s mainstream investors are very aware of this but many have been prevented from taking up the associated opportunities due to standards of disclosure, regulation and insufficient liquidity. By identifying the best of these new opportunities and making them accessible to the market in listed company form, PSource Capital Group is broadening the universe of attractive investment opportunities available to the UK’s leading investors.”
PSource is a subsidiary of U.K.-based financials services concern Punter Southall Group.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…