PSource Debt Fund Looks For $12M More

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.


In Depth

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

The Life Settlement: Yield For The Investor And Cash For The Consumer

Mar 31 2015 | 6:48am ET

Investors are languishing in a yield-starved, low-interest rate environment, looking...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs 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…

Editor's Note