Tuesday, 5 May 2015
Last updated 50 min ago
May 7 2009 | 11:59am ET
Emerging markets specialist Ashmore Investment Management is looking help investors unload hard to value assets with its new Global Consolidation and Recovery Fund.
The fund, which debuted last month, focuses on less liquid and other financial assets in emerging markets and was seeded with $100 million by UBS AG.
Ashmore’s latest offering follows the same blueprint as its Russian Consolidation and Recovery Fund, which launched in 1999 in similar circumstances of illiquidity after the financial crisis of 1998.
“Just as in 1999, we are offering the opportunity to financial institutions, including other funds and their investors / LPs who may be exiting/reducing their emerging market commitments, together with any other investors, of addressing some or all of their emerging market balance sheet exposures,” said Mark Coombs, Ashmore’s chief executive.
“Crucially, investors will maintain the upside as asset prices recover and, most importantly, they will not be selling at the bottom.”
The Guernsey-domiciled fund will have an investment lifecycle of at least five years. Ashmore currently has $20 billion is assets under management in a variety of funds.
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…