Wednesday, 26 October 2016
Last updated 2 hours 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.