Saturday, 29 August 2015
Last updated 9 hours ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…