Tue, Oct 13, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Phoenix Investment Adviser initiates a soft close of its flagship JLP Credit Opportunity Fund

Thursday, April 11, 2013

Bailey McCann, Opalesque New York:

Phoenix Investment Adviser, a $657M investment firm focused on high-yield US corporate debt, has initiated a soft close of its flagship JLP Credit Opportunity Fund. It will accept new investors until July 1. After that, the fund plans to protect existing investors by not allowing capital from new investors to dilute the fund’s future returns. For the time being, existing investors may still add capital to the fund.

"From the beginning, we told investors we would size the fund to the opportunity set in order to maintain a high rate of return," Phoenix founder and CIO Jeff Peskind, said in an interview with Opalesque. "We are money managers, not asset gathers, and we are focused on continuing to deliver robust returns to our investors, as opposed to just growing AUM."

He noted that right now, without a pull back, the current opportunity set for this fund may start showing slightly diminished returns without the soft close. The close itself isn't permanent and Peskind and the investment team will continue to evaluate the market in the event a better opportunity presents itself. Currently, the fund has approximately $550m AUM.

The firm is still growing its other programs including the two-year-old JLP Institutional Credit Fund. As Opalesque previously reported, this fund recently received......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Manager Profile - Pimco alternative funds flourish as 30-year bond rally fades[more]

    From Bloomberg.com: Inside Pacific Investment Management Co., the bond behemoth that lost two chief investment officers last year and saw almost $500 billion of client money leave, a hidden profit engine is easing some of the pain. For more than a decade, Newport Beach, California-based Pimco has qu

  2. Niche Investing - Art investment funds: Attracting institutional and other new investors[more]

    From Mondaq.com: The Deloitte/ArtTactic Art and Finance Report 2014 (the "Art and Finance Report") noted that the "global art investment fund market was estimated to be worth at least $1.26 billion in the first half of 2014." This seems almost inconsequential when juxtaposed with the $54 billion of

  3. Other Voices: Why fund boards must develop a response to cyber security and financial crime threats[more]

    This article was written by Carne, an international specialist in the provision of independent governance services and European management company solutions to the global asset management industry. A recent SEC action has highlighted how concerned regulators have become about data intru

  4. Hedge funds relatively resilient in Q3[more]

    Komfie Manalo, Opalesque Asia: Hedge funds fell in the third quarter as market conditions remain challenging, but still outperformed the S&P 500. The Lyxor Hedge Fund index was down 3.6% during Q3 while the S&P 500 fell 8.2%. According to Lyxor, "hedge funds were quite resilient in Q3. Falling en

  5. Hedge funds start Q4 on strong footing reversing the previous market downturn[more]

    Komfie Manalo, Opalesque Asia: Hedge funds started the fourth quarter on a strong footing, reversing the previous market downturn with the Lyxor Hedge Fund Index up 1.1% as of end Oct. 6 (-0.7% YTD). Event-driven outperformed, up 2.2% (-4.2% YTD), and CTAs underperformed (- 1.9%), extrapolatin