Signet Capital Management is to list a closed-end company on the London Stock Exchange next month that will make investments with fixed-income hedge fund managers, an executive of the firm said Friday.<\/p>\n
The plan was revealed as another fund-of-hedge-funds firm, New York-based Thomas H. Lee Capital Management LLC, delayed its planned IPO until next year. <\/p>\n<\/div>\n
Ric Berman, Signet’s chief compliance officer, told Dow Jones Newswires the company hopes to raise between GBP50 million and GBP150 million, with the proceeds going into its existing $950 million Global Fixed Income Fund. <\/p>\n<\/div>\n
That fund, launched in 1999, invests in hedge funds specializing in various fixed-income assets and strategies, including investment-grade corporate bonds, government bonds, high-yield bonds, emerging markets debt and distressed securities. <\/p>\n<\/div>\n