Friday, 30 January 2015
Last updated 6 hours ago
Apr 30 2013 | 9:44am ET
Hedge and mutual fund manager DoubleLine Capital has raised $2.3 billion for a new bond fund, one of the largest initial public offerings ever for a closed-end fund.
The DoubleLine Income Solutions Fund will borrow a page from Los Angeles-based DoubleLine's hedge funds, employing leverage representing as much as one-third of its total assets. The new fund is helmed by corporate-bond specialist Bonnie Baha and emerging-markets debt specialist Luz Padilla.
At least 80% of the new fund's assets will be invested in global debt securities, and the fund will apply leverage through the use of reverse repurchase agreements and bank debt.
The new fund trades under the ticker symbol "DSL."
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…