Sunday, 21 December 2014
Last updated 1 day ago
May 8 2008 | 7:43am ET
The $6.3 billion San Bernardino County (Calif.) Employees’ Retirement Association is making good on its 4% allocation to credit strategies. The plan last month committed a total of $60 million to a pair of distressed-debt funds
The plan committed $30 million to Angelo Gordon Capital Recovery Partners VI, a $2 billion distressed debt fund, and $30 million to M.D. Sass Waterfall Victoria Fund, a hedge fund investing in less-liquid asset-backed securities.
M.D. Sass launched the fund last year as a follow-on to its two-year-old, $1 billion Waterfall Eden Fund, which specializes in high-yield and distressed ABS, to take advantage of a potentially large supply of less-liquid ABS available in the marketplace, “as holders ran into some difficulty because of being too leveraged or having redemptions in their funds due to poor performance,” according to a source familiar with the fund.
Jack Ross and Tom Capasse, portfolio managers for Waterfall Eden, also serve as managers for the Waterfall Fund.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.