Thu, Jul 2, 2015
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. Opalesque Exclusive: New systematic strategy managed alongside research firm outperforms S&P500[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: An emerging CTA manager explains how he runs his strategy, which is based on an index produced by a research firm. Peter Turk is head of

  2. Opalesque Exclusive: New systematic strategy embraces machine learning[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The founder of a New York-based systematic trading firm, which offers a hybrid between alpha strategies and alternative feta at lower fees, describes his approa

  3. Larry Robbins' hedge fund Glenview buys 1m Tenet Healthcare shares[more]

    Komfie Manalo, Opalesque Asia: Glenview Capital Management said it bought an additional 979,482 shares at Tenet Healthcare Corp valued at $53.80 million, raising its stakes in the healthcare services company to 15.16%, reported

  4. Legal - Grayson’s hedge funds under scrutiny for possible ethics violations, Court rejects hedge fund’s motion to block merger of Samsung affiliates[more]

    Grayson’s hedge funds under scrutiny for possible ethics violations From Freebeacon.com: Rep. Alan Grayson is finding himself in hot water over managing hedge funds that bear his name, actions that are in possible violation of House ethics rules. Sitting members of Congress are prohibite

  5. Hedge funds panic over Greece[more]

    Komfie Manalo, Opalesque Asia: Some investors are in panic mode as Greek Prime Minister Alexis Tsipras announced Sunday night that the banks and the stock market would be closed Monday, said

 

banner