Friday, 9 October 2015
Last updated 4 min 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."
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…