Friday, 31 October 2014
Last updated 14 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."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.