Laurus to manage $60 million PSource fund

By Susanna Moon

Chicago, Aug. 13 - Laurus Capital Management said it would manage PSource Structured Debt Ltd., a closed-end fund that raised more than $60 million of capital in its initial offering.

The fund is believed to be the first publicly traded hedge fund listed under Chapter 15 on the London Stock Exchange (PSD), according to a press release.

Of the portfolio holdings, 85% will be invested in senior secured debt and 15% will be equity in the form of warrants. The fund carries a 2% annual management fee and a 20% performance fee to be shared by Laurus Capital Management and a PSource Capital Group affiliate.

The sponsoring broker for the launch was Winterflood Securities.

Laurus is an asset-based investment adviser based in New York.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.