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Bailey McCann, Opalesque New York: London and Tampa, Florida-based, $250 million investment advisory firm, Bayshore Capital Advisors is launching its second private debt multi-manager fund. The Global Alternative Income Fund is an actively managed multi-manager fund that will invest in short to moderate duration loans and other cashflowing assets. The fund is targeting a 9-11 percent return, according to fund documents reviewed by Opalesque.
The fund will launch on the Montlake platform with $20 million in initial capital.
The core strategies of the fund include direct leveraged lending; specialty finance; asset based lending and trade finance. The average loan term for its short duration loan strategy will be 12-24 months.
The fund will be constructed of six managers. Three will focus on asset-based lending globally, another will manage a North American-based speciality finance sleeve and the remaining two strategies will be North America based direct leveraged lending and global trade finance.
The Global Alternative Income Fund is following the strategy laid out in Bayshore's first private debt fund - the Alternative Income Fund I, which is closed to outside capital. That fund has provided an 8.4 percent annualized return since inception and is up 4.7 percent year to date.
According to sources familiar with the launch, Bayshore has assembled the multi-manager strategy in order to focus on short duration assets with higher yields. Bayshore pred...................... To view our full article Click here
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