Hedge Funds >>>

    TMRS Picks Highland for $250m Loan Allocation

    The Texas Municipal Retirement System is investing $250 million in bank loans as it shifts money from equities and bonds. Click HERE for more.

    Brevan to Start Fund Run by Ex-Deutsche Bank Team

    Brevan Howard Capital Management LP has started an investment fund run by a team of former Deutsche Bank AG market strategists in New York, as Europe’s second-biggest hedge-fund firm expands its presence in the U.S. Click here to continue reading.

    Ohio Highway Patrol Allocates to Loans in Yield Hunt

    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 to Use Cash to Buy Back Bonds

    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.

    Bloomberg Brief Real Estate Supplement – Free Download

    Download our new Real Estate Supplement here.

    Ohio Police & Fire to Add More High-Yield Debt

    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 to Forgo Bond Refinance

    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.

    Ex-Diamondback’s Schimel to Start Sterling Ridge

    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 Targets 300bp Coupon Reduction: CEO

    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 Seeks Emerging Managers

    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.

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