GLOBAL - Partners Group, the independent alternative asset manager, has held of an initial closing of its Premier fund, with commitments of E137m.
Premier is a convertible bond with an underlying fund of managed hedge funds accounts. The fund has an annual 1% coupon and a maturity of ten years. Issuance proceeds are to be invested into a portfolio of different hedge fund strategies - convertible arbitrage, merger arbitrage, long/short equity, equity market neutral, active and passive managed futures.
At maturity, investors receive the higher of either the principal of the bonds or the NAV (Net Asset Value)of the funds
Partners Group has over US$4bn of hedge fund and private equity programmes under management and has operations in Zug, New York and Guernsey.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers