Tuesday, 23 September 2014
Last updated 4 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.