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

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note