Tue, Jun 27, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Rothschild completes Euro 200m fund raising for its first Oberon Credit Investment Fund

Monday, January 20, 2014
Opalesque Industry Update - Rothschild announced that its Merchant Banking arm has completed the final closing of Oberon Credit Investment Fund I, its European secured credit fund.

Rothschild worked with Key Capital to place this unlevered six-year closed end fund.

The Oberon fund is an actively managed credit fund invested in a diversified portfolio of secured debt within leading European LBOs. The Fund targets a 7-9% net IRR, via quarterly cash distributions, offering low volatility of returns and superior access to assets via a proven and highly respected Investment Adviser.

The Oberon portfolio presently consists of c60% 2013 primary issuance, with the balance selected from a pool of seasoned secondary assets well known to the Investment Adviser. Active management will ensure that relative value will be constantly assessed and the portfolio repositioned to take advantage of attractive market dynamics. To date the fund is 90% invested across 40 names and is expected to be fully invested in early 2014.

Phil Yeates of Rothschild Merchant Banking said: “We are very pleased to have achieved our initial targets for the Oberon European Credit Investment fund and to have attracted a diverse group of investors from European and UK pension funds, insurance companies, local authorities and family offices. The Oberon strategy marries Rothschild’s outstanding track record with the attractive risk/reward characteristics available from this asset class. There is an increasing awareness amongst investors as to the merits of secured debt, notable the predicable levels of cash yield, the floating rate nature of the assets and the relative value European secured credit offer when compared to other sub-investment grade products."

Rothschild anticipate launching Oberon II in the second quarter of 2014.

km

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. Legal - Bond market concerns could scuttle Paulson's Fannie-Freddie plan[more]

    From Bloomberg.com: A hedge fund proposal for freeing Fannie Mae and Freddie Mac from U.S. control is poised to face stiff opposition from investors who say it risks wrecking the mortgage-bond market. The Moelis & Co. blueprint, which firms including Paulson & Co. and Blackstone Group LP sponsored,

  2. Other Voices: Are your pricing policies and procedures for less liquid instruments adequate?[more]

    Komfie Manalo, Opalesque Asia: The unrelated position mismarking incidents that quickly precipitated the closures of both Visium Asset Management and Marinus Capital have been recent focal points for market participants, but regulatory scrutiny of valuation choices for less liquid instruments is

  3. FinTech - AI hedge fund Numerai now live on Ethereum, Cryptocurrency hedge funds generate huge returns as bitcoin surges[more]

    AI hedge fund Numerai now live on Ethereum From Cryptoninjas.net: Back in February, Numerai announced numeraire (NMR), a cryptographic token to incentivize a new kind of hedge fund built by a network of data scientists. Earlier today, the Numeraire smart contract was officially deployed

  4. Investing - Advisors slash hedge fund positions, Theravance Biopharma is a top pick of investment guru Seth Klarman, As asset management industry grows a search for new revenue streams[more]

    Advisors slash hedge fund positions From Barrons.com: Financial advisors have cut wealthy clients' exposure to hedge funds by up to one third over the past 12 months, The Financial Times reports. Advisor firms in the FT's annual top-300 ranking have reduced their hedge fund allocation to

  5. Investing - U.S. hedge fund in anonymous bet against Tesco shares, Hedge funds made repeated attempts to invest in Veneto banks, Steve Cohen's Point72 takes stake in struggling electronics retailer Conn's, Hedge fund Excalibur bets Riksbank will tighten by end of year[more]

    U.S. hedge fund in anonymous bet against Tesco shares From FT.com: A $20bn New York hedge fund is using an offshore shell company to anonymously bet against the shares of the UK supermarket Tesco, raising fresh questions over the efficacy of European short selling disclosure rules.