Pine River Closes Flagship To New Money

Jun 13 2014 | 1:13pm ET

Pine River Capital Management has begun to turn away new money, citing a dearth of enticing opportunities.

The Minnetonka, Minn.-based firm, which has $15 billion in assets under management, told investors yesterday that it had closed its flagship to new investment. The firm said that there were few “outsized opportunities” available, and that keeping the fund at its current $4.5 billion size would allow it to remain nimble and to take advantage of any profitable new ideas, the Financial Times reports.

Pine River has been keeping an eye on the size of its funds for the past year, returning $1 billion to investors. Most of that, however, has been from smaller funds set up to take advantage of post-financial crisis opportunities.

The decision to close the fund comes even as Pine River seeks $750 million in permanent capital through a new reinsurance company.


In Depth

Direct Lending: What’s Different Now?

Mar 14 2017 | 8:43pm ET

Senior direct lending funds have become riskier over the past four years, with leverage...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of