PSource Floats Structured Debt Hedge Fund

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.


In Depth

Q&A: SkyBridge’s Anthony Scaramucci Readies For Wall Street Week Debut

Apr 16 2015 | 12:56pm ET

Anthony Scaramucci, founder and managing director of asset management firm SkyBridge...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Minnesota Supreme Court Rejects The Ponzi Scheme Presumption: Lenders Claw Back Some Of Their Own Rights

Apr 17 2015 | 9:23am ET

A recent court ruling in Minnesota has put an end to the Ponzi Scheme Presumption...

 

Editor's Note