Globefin Debuts ABL Fund Of Hedge Funds

Jan 7 2008 | 4:10pm ET

Globefin US Advisors last week launched a new asset-based lending-dedicated fund of hedge funds. The Cannonball Stability Fund debuted with more than $16 million in assets and will exceed $24 million by Feb. 1, according to the firm, which hopes to ramp up its assets to $100 million by the end of the year.

The fund invests in over 20 single-manager hedge funds that engage in the origination and holding of private loans and secured against specific assets. Cannonball invests in numerous sub-strategies such as corporate secured lending, insurance lending, consumer finance and accounts receivable finance.

Andrew Hoffman, who joined the firm from Asset Alliance, will manage the fund from the firm's New York office.

Globefin US Advisors is part of the Globefin Asset Management Family, which manages assets in excess of $600 million in three other funds of hedge funds.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

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

The Future of Private Equity: New Opportunities, New Challenges

Feb 3 2017 | 6:41pm ET

The private equity industry’s astonishing rebound since the financial crisis has...

 

From the current issue of