Sat, Feb 13, 2016
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. Investing - Real estate secondaries sole 'bright spot' in 2015, As hedge funds stumble, one firm prepares to buy illiquid stakes[more]

    Real estate secondaries sole 'bright spot' in 2015 From IPE.com: The secondary market for property was the sole “bright spot” over the course of 2015, as hedge fund secondaries saw deals fall by two-thirds, according to a wide-ranging survey of the market. Setter Capital said 2015 saw th

  2. Asia - Hedge fund manager Kyle Bass estimates China's foreign reserves below critical level[more]

    From Nasdaq.com: Investor Kyle Bass stepped up his attack on China's currency, arguing in an investor letter distributed Wednesday that the second-largest economy's foreign reserves are "already below a critical level." The comments mark the latest effort by hedge funds and other investors to raise

  3. Investing - Some hedge funds want to make subprime auto loans next big short, 11 hedge funds that are “all in” on the FANG stocks, Hedge funds short London luxury homes, Cynet raises $7 million from U.S. hedge fund[more]

    Some hedge funds want to make subprime auto loans next big short From Bloomberg.com: A group of hedge funds, convinced they have found the next Big Short, are looking to bet against bonds backed by subprime auto loans. Good luck finding a bank willing to do the trade. Money manage

  4. Investing - Hedge funds see selloff in European bank stocks as buying opportunity[more]

    From WSJ.com: The massive selloff in European bank stocks and bonds is overdone and presents a “phenomenal” buying opportunity, according to some of Europe’s top hedge-fund managers. Despite a 28% slump in European bank stocks this year, including a 38% fall in Deutsche Bank AG and a 34% drop in Soc

  5. Legal - Carlyle accused of fraud by ex-employee, Hedge funds win CDS breach of contract suit against Deutsche Bank, Hedge fund asks for OK on $27.5m Goldman CDO deal, SFO examines Barclays hedge fund profits[more]

    Carlyle accused of fraud by ex-employee From AI-CIO.com: A former portfolio manager claims he was fired for blowing the whistle on “crazy” and “irresponsible” investments. Carlyle Group has been sued by a former portfolio manager for one of its hedge funds, who accused the firm of “knowi