News

FS Investments Launches Fund With Magnetar Capital As Subadviser

FS Investments registered the FS Energy Total Return Fund on October 25. The fund will seek to raise up to $2 billion. The minimum initial investment for Class A and C shares will be $2,500, and the minimum investment for the institutional class I shares is not yet set. Class A Shares have a upfront commission, while Class C Shares have a no upfront fee, but instead have an ongoing servicing fee.

Magnetar Capital, which became famous for making massive profits during the financial crisis, will serve as the sub-adviser. Institutional Investor’s Hedge Fund Report Card ranked Magnetar as one of the top hedge funds in the world in 2015.

Northstar : Interval Funds Gaining Momentum

Dan Gilbert of North Star Asset Management (NYSE: NSAM) discussed the importance of interval funds in the new regulatory environment, on the NSAM Q2 2016 conference call:

“Our current products are implementing share classes well-suited for RIAs and wirehouses. We have already made progress on a number of significant relationships in these areas. We are also quickly developing additional products that will have structures that are well-suited to this channel, and we’ll leverage our internal capabilities, like the potential interval fund with Townsend.

Using a Little-Known Type of Fund for Private-Company Exposure

The Wall Street Journal had an article a while back discussing a type of situation where a financial adviser found interval funds to be a great fit for a client. The interval fund used here is SharesPost 100 Fund (PRIVX), but a similar process would likely apply for many different funds.

According to the adviser in the article:
“What’s interesting to me about closed-end interval funds is that clients get access to these [private] companies, but they have the transparency and regulatory benefits of the mutual-fund structure,”

«‹ 5 6 7 8