Saturday, 23 May 2015
Last updated 11 hours ago
Jun 6 2008 | 2:58pm ET
U.K.-based Absolute Return Partners this month launched a credit fund of hedge funds to take advantage of the current dislocation in large parts of the credit market.
The ARP Credit Opportunities Fund is a multi-manager offering investing in credit funds across the spectrum. Loan funds and opportunistic credit funds will initially dominate the asset allocation of the fund while distressed funds will become more prominent in the portfolio later on, according to the firm.
That said, the portfolio will have a distressed securities component from the outset, as the financial services industry in general, and asset backed securities in particular, currently offer attractive opportunities for distressed securities investors.
Niels Jensen, a senior partner at Absolute Return Partners, said the firm’s seed investors “encouraged” it to create a concentrated portfolio of high conviction, high quality credit funds so the fund will remain a concentrated multi-manager fund with only eight to 10 underlying funds.
And because of its high conviction, the firm has decided to only charge investors a performance fee.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…