Saturday, 28 March 2015
Last updated 1 day ago
Mar 6 2014 | 1:02pm ET
Beach Point Capital Management has launched a new credit strategy with $74 million.
The Beach Point Multi-Asset Credit Fund, which carries a $5 million minimum investment, began selling on March 1, according to regulatory filings.
Santa Monica-based Beach Point was founded by Carl Goldsmith and Scott Klein, who worked together as an investing team at Post Advisory Group starting in 1997. The two built and ran Post’s multi-billion dollar alternative fixed-income business (opportunistic high yield, corporate loans and distressed debt) and founded Beach Point through a management buyout of Post's alternative investment business in 2009, bringing 30 former Post employees with them.
Beach Point specializes in distressed debt, high yield bonds, corporate loans and other credit-related market niches, but has discretion to invest in a wide range of investments on behalf of its clients.
The firm is 100% owned by Goldsmith and Klein and had $6.6 billion in assets under management as of January 2013.
An attempt to contact Beach Point for further information about the fund was unsuccessful as of press time.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…