Tue, May 5, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Pine Grove launches Alternative Institutional Fund

Thursday, January 23, 2014

Bailey McCann, Opalesque New York:

Pine Grove Asset Management LLC (PGAM) has launched the Pine Grove Alternative Institutional Fund, the fund is its first closed-end '40 act fund. The new offering will provide accredited investors with streamlined access to relative value and event driven hedge fund strategies with a core focus on credit investing. The launch is a notable addition to the '40 act space as unlike many others, the fund offers quarterly liquidity and an undiluted strategy.

In bringing the new product to market, PGAM took deliberate steps to convert a private, unregistered fund into a registered '40 Act fund format. The original, private fund was incepted in the 1990s and only available to qualified purchasers.

"We are investing in the same underlying managers and the same flagship funds as we did for the private fund. Open-ended funds in this space, are most likely allocating to separate accounts to offer daily liquidity. Keeping our investments the same allows us to continue to provide the appropriate assets and liabilities match, and also accounts for our quarterly liquidity profile," says Matthew Stadtmauer, PGAM President, in an interview with Opalesque.

The new product will benefit from the 16-year history of the underlying managers and funds from the private fund. The fund invests in hedge funds that employ a variety of investment strategies, including distressed credit investing, hedged credit, convertible arbitrage and long/short ......................

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. SEC charges funds of hedge funds Alpha Titans, executives, and auditor for improper expense allocations[more]

    Update: Please note the important updated information at the end of the article.The Securities and Exchange Commission today announced charges against a Santa Barbara, Calif.-based hedge fund advisory firm and two executives involved in improper allocations of fund assets to pay undisclose

  2. Swiss group Pictet releases first public annual and financial reports[more]

    Benedicte Gravrand, Opalesque Geneva: Pictet Group, a Swiss private bank, has just released its first public annual report and financial report since it opened for business in Geneva in 1805. I

  3. Opalesque Exclusive: Carne establishes non-EU ManCo in Jersey[more]

    Benedicte Gravrand, Opalesque Geneva: For those managers who will not domicile their fund in the European Union (EU) and yet want to distribute it in the EU – especially the UK –, going under the wing of an AIFMD-compliant ManCo on the Channel Islands could be one of the ways to do it. Ch

  4. Opalesque TV: Aequam Capital: Asset management industry will be mainly quantitative going forward[more]

    Benedicte Gravrand, Opalesque Geneva: Before starting his boutique in 2010, Arnaud Chretien, co-founder and CIO of Aequam Capital, worked ten years as a market trader and 18 years as a quantitative and systematic fund manager for Soc

  5. Class-action lawsuit accuse hedge fund Standard General of holding American Apparel hostage[more]

    Komfie Manalo, Opalesque Asia: A shareholder class-action suit filed on Wednesday accused New York-based hedge fund Standard General of holding American Apparel hostage. It would reportedly reap huge benefits if the clothing company declared bankruptcy. Standard General is the controlling sto

 

banner