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PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

Basil WilliamsBasil WilliamsAs the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should begin reflecting economic fundamentals again, writes PAAMCO head of portfolio management Basil Williams. Over time, this should lead to a realignment of relative value within and across asset classes and reward active over passive management styles. The risk in this scenario? Whether higher inflation will first play out in the credit and volatility markets, Williams says.

Q&A: Portfolio Advisors' Brian Murphy On The Advantages of A Private Markets Platform

Jan 2 2018 | 11:05am ET

Brian MurphyBrian MurphyMost private markets firms reference their platforms as a source of competitive advantage, but few have established a more interconnected, mutually-supporting web of strategies and services than Darien, Connecticut-based Portfolio Advisors, LLC. This was done for many good reasons, notes Managing Member Brian Murphy in this Q&A, and delivers multiple benefits including the ability to be patient when necessary, innovative when an opportunity to expand appears, and cycle-agnostic throughout. 

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is rapidly changing the capital formation landscape, says John Borchers of Palo Alto- based Decathlon Capital Partners, especially for established lower middle-market firms. Increasingly, companies that don’t fit the typical VC or traditional-lender profile are looking to non-dilutive, flexible and patient revenue-based funding structures that can underwrite growth acceleration and value creation. 

Hedge Fund Managers Have To Think Like Amazon

Oct 24 2017 | 5:56pm ET

Peter HansPeter HansHedge fund managers need to understand the expectations of today’s Amazon-conditioned consumers if they want to grow their businesses, explains Harvest co-founder and CEO Peter Hans in this contributed article. Change is often a four-letter word at many alternative investment managers, but those who fail to adopt a more customer-centric model risk being eclipsed by a select group of managers who can deliver a superior experience.

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Olga ChernovaOlga ChernovaTraditional collateralized loan obligation (CLO) funds in the U.S. market can offer investors attractive returns and strong credit performance, but refinancing costs and liquidity concerns are often questioned, says Sancus Capital Management founder and CIO Olga Chernova. In response, the company has designed an automatic refinancing feature named AMR that can simplify the process and bring greater transparency to the market. FINalternatives recently discussed her firm’s innovation and the improvements it may bring to the traditional CLO market.

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Brett HickeyBrett HickeyLower middle-market companies form the economic fabric of the nation, but they can be tricky and labor-intensive to finance, and traditional banking institutions have increasingly avoided them since the financial crisis. Accordingly, a number of alternative investment managers have successfully specialized in the niche, among them Brett Hickey’s New York-based Star Mountain Capital. FINalternatives caught up with Brett recently for an in-depth look at his company, his current thoughts on this segment of the market, and his belief that the right corporate culture is a core ingredient in building a prosperous enterprise.

What Can Your Hedge Fund Do For Me?

Sep 11 2017 | 5:07pm ET

Bruce FrumermanBruce FrumermanMarketing to large, sophisticated investors is the hope of most alternative fund managers, but many rely on one-dimensional pitches that focus only on the basics of strategy and performance. In doing so, they come across as just another vendor hawking a product, writes Bruce Frumerman of Frumerman & Nemeth in this contributed article. Instead, understanding the particular context in which an investor views a fund, and helping them answer the core question of “what can you do for me?”, sets up much more productive conversations down the road.

Steinbrugge: Are There Still Opportunities in Structured Credit Hedge Fund Strategies?

Sep 5 2017 | 10:57pm ET

Don SteinbruggeDon SteinbruggeDespite widespread belief that the beta opportunity arising from the interest rate trend in place since the financial crisis has run its course, inefficiencies in the credit market markets persist, says Agecroft Partners' Don Steinbrugge in this contributed article. Accordingly, they still offer great opportunities for structured credit managers to generate alpha-driven risk adjusted returns.

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Matt RothfleischMatt RothfleischCorporate actions have long been a staple of event-driven investors, but activity levels can rise and fall with the credit cycle and make late-stage investing more daunting. Indeed, notes Rotation Capital CEO Matt Rothfleisch, “winter is coming”…and investors should adapt to incipient changes in market conditions accordingly. We recently caught up with Matt to hear his thoughts on investment approach, the revitalized SPAC market, opportunities in distressed instruments, and the general market outlook.   

AIMA: Smaller Firms Remain the Lifeblood of the Hedge Fund Industry

Jul 26 2017 | 5:55pm ET

It is a hedge fund industry truism that the largest managers receive the most attention, but the 90% of hedge funds out there managing less than $1 billion remain the lifeblood of the industry and the cradle of its innovation, according to AIMA CEO Jack Inglis. Moreover, new research from the trade association suggests the AUM breakeven point for these smaller managers is much lower than traditionally thought. 

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