3 August 2007
The London Stock Exchange is delighted to welcome PSource Structured Debt Limited to the Main Market.
PSource Structured Debt Limited is a Guernsey domiciled, closed-ended income fund investing in senior secured debt and warrants issued by US-based small-cap companies. The investment manager of the fund will be Laurus Capital Management LLC, an SEC-registered investment adviser. The fund has been launched by PSource Capital Group, a part of Punter Southall Group Limited.
Soondra Appavoo, Managing Director of PSource Capital Limited, commented:
“We are delighted to have launched PSource Structured Debt as our first listed fund. PSource Capital was created to identify the best single manager alternative investment opportunities and make them available to mainstream investors through the London listing of closed-ended vehicles. PSource Structured Debt Limited will give investors access to alternative investment type returns, with the high corporate governance standards required by the Main Market under Chapter 15 of the Listing Rules.
Many investors are aware of the attractive risk/reward profiles offered by the best alternative investment products but are prevented from taking up the associated opportunities due to standards of disclosure, regulation and insufficient liquidity. By identifying and making the best of these new opportunities accessible in listed company form, PSource Capital is broadening the universe of attractive investment opportunities available to UK investors.”
The Company’s lead sponsor, stockbroker and financial advisor is Winterflood Securities supported by Fox-Pitt, Kelton as joint sponsor. Its financial public relations agency is Weber Shandwick Financial. Eversheds and Ozannes were legal advisers as to UK and Guernsey law, respectively.