Friday, 22 August 2014
Last updated 10 min ago
Aug 11 2008 | 12:17pm ET
New York-based Laurus Capital Management, a hedge fund that specializes in financing publicly-traded small- and micro-cap companies, has issued £6.1 million (US$12 million) in additional shares of its PSource Structured Debt on the London Stock Exchange.
The new issuance follows the completion of a secondary round of financing that raised £27.1 million (US$53 million) in June 2008. PSource now has approximately £65.6 million (approx. US$130 million) under management, more than double its size since its launch less than a year ago.
“As traditional lenders continue to be adversely affected by the credit crisis, our investment strategy will be a key resource for small companies in need of capital.” said Dennis Pollack, a partner at Laurus. “The additional investor demand for access to this growing market isn’t surprising, as PSource is one of the few vehicles to provide overseas investors – both retail and institutional—with access to our strategy.”
Currently, PSource invests approximately 70% of its assets in predominantly senior secured debt, and approximately 30% of its assets in equity instruments. The fund is managed by PSource Capital Guernsey, a subsidiary of Punter Southall Group, based in London.
Laurus, together with its affiliate, Valens Capital Management, has approximately $1.7 billion in assets under management as of July 31.
Aug 4 2014 | 7:42am ET
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The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note