Sun, Apr 26, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

GLG Ore Hill raises $200 million for institutional client's credit mandate

Tuesday, October 04, 2011
Opalesque Industry Update - GLG Ore Hill LLC, a credit-focused, event-driven hedge fund and structured product manager based in New York, announced that it has raised $200 million for a large institutional client’s credit mandate. As of September 1, 2011, GLG Ore Hill has $1.7 billion in funds under management which is comprised of institutional assets. GLG Ore Hill invests across the capital structure of highly leveraged companies using a multi-strategy approach and invests opportunistically in event-driven and special situations in distressed, stressed and non-distressed companies. Ben Nickoll and Frederick “Fritz” Wahl are principal officers and the portfolio managers.

“We believe the conditions for high yield investing have improved significantly,” said Mr. Nickoll. “The recent surge in yields for higher quality, below investment grade bonds and loans, along with the steep drop in treasury yields, puts high yield securities at an unusually large multiple to the risk free rate." Combined with the benign default scenario for the next two to three years, we believe that high yield bonds and loans begin to look attractive in comparison to many other asset classes.”

Source

Press release

bc

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. U.S. does not want hedge funds to invest in offshore re-insurers for tax purposes[more]

    Komfie Manalo, Opalesque Asia: The U.S. Treasury Department on Thursday introduced a new rule aimed at limiting hedge funds’ ability to reduce their tax bills by investing in insurance companies in offshore tax havens. As a general rule, the U.S. tax laws does not allow hedge funds to use off

  2. Ruling: Hedge funds suing Argentina can have access to bond offering details[more]

    Komfie Manalo, Opalesque Asia: U.S. District Judge Thomas Griesa in Manhattan ruled yesterday that hedge funds are entitled to details of a recent bond offering by Buenos Aires, reports

  3. Fund managers express concern of overvaluation in both equity and bond markets[more]

    Komfie Manalo, Opalesque Asia: According to the BofA Merrill Lynch Fund Manager Survey, investors see growing overvaluations in both

  4. Update: Wall Street has strong feelings about Jon Corzine trying to make a comeback[more]

    From Businessinsider.com.au: Former New Jersey Governor Jon Corzine is thinking about starting his own hedge fund, according to the Wall Street Journal, and because of the way his last firm imploded, Wall Street has strong feelings about that. “Truth is the larger seeders would never give him money

  5. Opalesque Exclusive: Cybersecurity and hedge funds - A manager’s experience, Part Four[more]

    Benedicte Gravrand, Opalesque Geneva: Ruane, Cunniff and Goldfarb, Inc. used to have their own IT infrastructure. Todd Ruoff, Executive Vice President in charge of trading, operations and technology, was responsible for its maintenance. Then he started looking at outsourced providers a couple of

 

banner