Saturday, 30 August 2014
Last updated 1 day ago
May 13 2008 | 9:44am ET
Morgan Creek Capital Management, the $10.4 billion fund of funds shop, has launched a distressed offering to exploit opportunities in the credit markets.
The Chapel Hill, N.C.-based firm last month launched the Dislocation Fund, a $36 million vehicle that will invest in hedge and private equity funds, and is looking to raise some $500 million, according to a source familiar with the firm’s business development efforts.
The Dislocation Fund will invest in some 20 underlying managers focusing on leveraged loans and senior debt, mortgage-backed securities, collateralized loan obligations and municipal bonds. It sports a five-year lockup but will return capital to investors in line with some of its underlying portfolios, such as coupon payments from munis.
The firm had no comment on its new offering.
Morgan Creek was founded in July 2004 by Mark Yusko, former chief investment officer of the $1.2 billion University of North Carolina at Chapel Hill endowment. In April 2005, the firm entered into a joint venture with Julian Robertson, Jr., and Tiger Management to develop an investment platform through an affiliate called Tiger Select Fund Management.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...