Monday, 30 November 2015
Last updated 2 hours ago
Sep 5 2013 | 11:47am ET
Hedge fund Petra Partners is gearing up for the launch of a peer-to-peer lending hedge fund.
The new credit-focused fund will debut on Oct. 1, HedgeCo.net reports. The new fund aims to offer low volatility and low standard deviation, producing annual returns of 9% to 12%.
"P2P lending has been around for only for a few years (the first P2P business, Zopa, was founded in the U.K. in 2005 and, since then, many others have entered the space) but, in that time, platforms in the U.S. and Europe have originated more than $3 billion in P2P loans,” Joshua Rand, Petra's chief operating officer, said. “Loan origination is currently growing at an average rate of approximately 8% to 10% per month, signifying a market—an asset class, actually—still in its nascent stages and with tremendous upside potential.”
“Moreover, while the sheer scale and growth prospects for this niche are impressive, what makes this asset class extremely compelling as an investment opportunity – and the primary reason for which we are eager to raise a fund – is the consistent performance of the loans and the diligent manner in which they are originated.”
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…