Wednesday, 29 July 2015
Last updated 19 hours ago
Dec 1 2006 | 3:47pm ET
Saddle Brook, N.J.-based Bulldog Investors is launching a yet-to-be-named Cayman Islands-domiciled version of is activist Full Value Partners fund in January. The new vehicle will launch with some $10 million in initial equity.
The fund is a combination of its Opportunity Partners and Full Value Partners predecessors whereby it will invest in closed-end funds and operating companies trading below its intrinsic value, according to co-founder Steven Samuels.
“I think the combination of investing in closed-end funds and operating companies is unique because a lot of times we’re finding it difficult in the operating world to find opportunities so instead of pushing things too much, it is very attractive in the closed-end area,” said Samuels.
The new offering charges a 1% managment fee and a 20% performance fee with a $1 million minimum investment .
Since inception in 1993, Bulldog’s Opportunity Partners has netted returns of 16.7% and its Full Value Partners is up 18.4% since Oct. 1, 2001, according to Samuels. The firm, which was founded by Samuels and Phillip Goldstein, is currently managing some $350 million in total assets.
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…