Coast Preps Pair of Funds of Funds

Mar 7 2008 | 9:24am ET

Santa Monica, Calif.-based fund of hedge funds shop Coast Asset Management is reportedly coming to market with a pair of funds of funds later this year.

The $6.7 billion firm is prepping the Coast Event Driven Fund and Coast Asset Lending Fund for launch with some $100 million each, Alternative Investment News reports. Direct Lending will allocate capital to credit and direct-lending managers but avoid asset-backed lending strategies.

Both funds will roll out with between 10 to 12 managers each.

The firm declined to comment on its new initiatives.

Coast recently named Roger Hartley, a former managing director at Putnam Lovell, as chief operating officer. Last year, the firm opened its initial office outside the U.S., in London, and recruited Sabine Maarschalk from ABN Amro to head sales efforts in the U.K., continental Europe and the Middle East. This year, the firm said it is actively exploring additional non-U.S. markets, particularly in the Pacific Rim countries.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

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...