Laurus Valens Raises $53M For Debt Fund

Jun 23 2008 | 12:40pm ET

New York-based Laurus-Valens has raised $53 million in a secondary round of financing for its PSource Structured Debt, a publicly-traded closed-end fund listed on the London Stock Exchange.

PSource now has approximately $115 million in total assets. The fund invests approximately 70% of its assets in predominantly senior secured debt, with the balance of its assets in equity instruments. The investment manager of PSource is Psource Capital Guernsey, a subsidiary of Punter Southall Group, based in London.   

“There's a perfect storm in our corner of the market, with traditional lenders pulling back and companies in need of growth capital looking for alternative sources," said Dennis Pollack, a partner at Laurus-Valens. “As traditional funding sources have become more restrictive, an increasing number of well-managed companies with strong business models are turning to Laurus-Valens for funding.”

Laurus-Valens has approximately $1.6 billion in assets and invests primarily micro-cap and late-stage private companies seeking growth capital.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...