ROUND-UP
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April, 2018
Prudential and PIC make sixth longevity reinsurance agreement
In a sign of the demand for defined benefit pension de-risking, Prudential Retirement, part of US insurer Prudential Financial, and the Pension Insurance Corporation have made their sixth longevity reinsurance deal since 2015. Under the terms of the transaction, the Prudential Insurance Company of America assumes a longevity risk for £900 million in ...
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April, 2018
NN Investment Partners launches global convertible bond fund
Fund manager NN Investment Partners (NN IP) has launched a global convertible bond fund to meet investor demand for exposure to the asset class. NN IP said that convertible bonds offer equity return potential with a lower downside, and low exposure to interest rates in a tightening monetary environment. NN IP senior portfolio manager, global convertible ...
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April, 2018
Hermes moves into European direct lending
Hermes Investment Management has set up a European direct lending fund, following the success of its UK direct lending fund in 2016. The European direct lending fund aims to deliver stable returns from senior secured loans (SSLs) to middle market companies in the UK and Europe, particularly Scandinavia, Germany, the Benelux region and Ireland. The SSLs are ...
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April, 2018
Schroders moves into China A-shares and US real estate loans
Fund manager Schroder Investment Management has made a 20% equity investment in A10 Capital, a commercial real estate (CRE) lender based in the USA. Schroders is investing in A10 Capital, which specialises in mid-market CRE loans, alongside private equity manager Gemspring Capital. As part of the deal, Schroders and A10 have agreed to give Schroders access ...
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April, 2018
P-Solve to rebrand as River and Mercantile Solutions
Investment consultant and fiduciary manager P-Solve is to rename itself as River and Mercantile Solutions from July 1, 2018. The firm said it wanted to create a consistent brand across the River and Mercantile Group, reflecting the increasing use of macro thinking to develop investment views and advice for its clients. Ajeet Manjrekar, co-head of P-Solve, ...
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April, 2018
Muzinich & Co reaches third close on pan-European private debt fund
Specialist credit manager Muzinich & Co has reached the third close for its pan-European private debt fund at €460 million. The fund will focus on lending to companies in the lower, mid-market sector, with earnings before interest, tax and depreciation (EBITDA) of €5-25 million. It is one of six private debt vehicles managed by the firm, which has ...
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February, 2018
Psigma launches inflation-plus strategy for fixed income investors
Psigma Investment Management has launched a fixed interest strategy which aims to produce inflation-beating returns and give a diversified credit exposure. The strategy is aimed at charities and pension funds and it aims to produce a net return of 4-7% a year from a range of underlying UK and overseas credit opportunities. Psigma said that the strategy ...
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February, 2018
EisnerAmper opens London office for asset managers
A leading provider of accounting, tax and consulting services to financial and asset management firms, EisnerAmper, has opened a London office. The office will be headed by Robert Mirsky, head of the firm’s asset management group. “As Brexit unfolds, Europe is facing an unprecedented period of economic and regulatory challenges and opportunities,” ...
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February, 2018
Macquarie acquires Luxembourg-based value specialist
Macquarie Investment Management is to acquire ValueInvest Asset Management, a Luxembourg-based specialist in value investing in global and Japanese equities. ValueInvest has assets of approximately €4 billion under management, and the deal with Macquarie is expected to close in mid-2018. The firm was founded in 1998 and has a team of 17 professionals. ...
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February, 2018
Lombard Odier IM launches equity long-short strategy
Lombard Odier Investment Managers has hired Arnaud Langlois to launch a global equity long-short investment strategy with a sustainability focus. Langlois will join Lombard Odier IM as a portfolio manager, along with senior analyst, Cyrus Azamgin, to launch the strategy in the second quarter of 2018 with $100 million in committed capital. Lombard Odier ...
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