DoubleLine Unveils Levered Bond Closed-End Fund With $2.3B

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."


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...