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Northlight plans $270 million loan fund, reports Hedgefund.net
Friday, July 30, 2010
Hedgefund.net reports that New York-based Northlight Financial plans to launch a loan-focused fund in the fourth quarter. It says the firm aims to raise $100 million of capital and add $170 million of leverage. The portfolio manager is Ajay Nanda, who joined the firm in June from Avenue Capital where he was a senior vice-president in the CLO group.
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CFlux secondary
CLO index levels:
| Index | 6 Feb |
|
| CFlux USD AAA | ↑ | 94.9 |
| CFlux USD AA | ↓ | 81.3 |
| CFlux USD A | ↓ | 75.0 |
| CFlux USD BBB | ↑ | 74.8 |
| CFlux USD BB | ↑ |
72.1 |
| CFlux USD EQ | ↑ | 67.6 |
