Friday, 27 March 2015
Last updated 17 min ago
Jul 30 2008 | 12:59pm ET
Unigestion, a US$11 billion fund of funds shop, has launched the Distressed Hybrid Fund of Funds to exploit the credit crisis via private equity and hedge fund managers.
The new fund will seek to gain exposure to distressed strategies such as consumer and commercial credit, corporate loans, mortgages, high-yield debt, distressed private equity, mezzanine and distressed real estate. The fund will offer investors a concentrated portfolio with exposure to 10 to15 funds.
The global repricing of risk, increased credit spreads and rising default rates are strong indicators of a new distressed cycle, according to the firm. Securities related to the collapsing mortgage market already exhibit highly distressed prices and over the next 18 to 24 months, the market dislocation is expected to impact the U.S. corporate market, followed by the European markets, real estate and finally p.e. deals worldwide.
A key feature for investors is that 50% of the portfolio is expected to be liquid within three to four years, as opposed to the industry standard 10-year lockup period in typical p.e. funds.
The fund will be capped at US$750 million with US$250 million for direct co-investments.
The minimum investment for institutional investors is US$10 million and US$1 million for individual investors.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…