Wednesday, 6 May 2015
Last updated 18 hours ago
Sep 8 2008 | 1:01pm ET
Fund of hedge funds shop Parker Global Strategies has launched a sector-focused strategy investing in U.S. energy infrastructure, including natural gas and crude oil pipelines, refined products and storage tanks.
The PGS High Income Trust is an open-ended fund that is allocating to five managers running customized mandates. It launched with $500 million.
“Energy infrastructure is vital to the U.S. economy,” said Virginia Parker, chief investment officer. “The sector has sold off significantly over the past year. Most of these companies are not exposed directly to the price of the commodities; providing investors with attractive yields and the potential for growth over time.”
This is the second fund that PGS has launched in energy and natural resources space. Its first, PGS Global Energy Edge, debuted in March 2007, allocating to energy, natural resources, water and environmental strategies.
Headquartered in Stamford, Conn., PGS manages in excess of $1.1 billion assets with offices in Denver, Chicago, Shanghai, Sao Paulo, Brazil and Tokyo.
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…