Hedge Funds >>>
The State of Ohio’s Highway Patrol Retirement System allocated $22 million in assets to senior secured loans in August as it seeks higher yield. Click HERE for more.
Kinetic Concepts plans to buy back $112 million of bonds due 2019 when it has excess cash provided that the debt trades at an attractive price, said Nathan Speicher, the issuer’s vice president of investor relations and treasury. Click HERE for more.
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The Ohio Police & Fire Pension Fund is boosting its holdings of high-yield debt, including floating-rate bank loans, while reducing equities to limit volatility. Click HERE for more.
Central European Media Enterprises may skip a chance to refinance 273 million euros ($365 million) of 11.625 percent bonds due September 2016 that lost make-whole protection this week after a ratings cut by Moody’s. Click HERE for more.
Richard Schimel, co-founder of Diamondback Capital Management LLC, will start a new hedge-fund firm in the fourth quarter to trade global stocks, according to a letter sent to potential investors. Click here to continue reading.
Kratos Defense & Security Solutions may refinance a $625 million bond early, triggering a $45 million prepayment penalty, to take advantage of low interest rates. Click Here For More
Discovery Capital Management LLC, the fund of separately managed accounts firm that was last year acquired by Direct Access Group LLC, plans to add as many as five emerging managers for allocations by year end, according to Donald Motschwiller, a partner at the New York-based firm. Click here to continue reading.
Estekene Capital Management LLC, the $100 million New York-based long-short valuebased equity hedge fund run by Peter Carlin and Charlie Carr, is shutting down and returning money to investors after having difficulty fundraising, according to a letter to investors obtained by Bloomberg. To read more, click here.
Passport Capital LLC, the $3 billion San Francisco-based hedge-fund firm run by John Burbank, sold its entire portfolio of mortgage debt backed by the U.S. government in the second quarter, according to a letter to investors obtained by Bloomberg News. To read more, click here.