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

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...