It comes as a half-year report from PSSL showed it posted a net asset value (NAV) return of 0.7 per cent for the six months to the end of June 2020. “This follows a period of intensive and rigorous preparatory work undertaken by Waterfall and its legal advisers.” “The board is pleased to effect the change of investment manager, something which the board unanimously and firmly believes is in the best interests of shareholders,” Simon King, chair of PSSL, said. Waterfall Asset Management -uk- Llp Sucursal en España está inscrita en el Registro Mercantil de Madrid. Read more: What is going on at Pollen Street Secured Lending? If no offer materialises, the board has previously said it would recommend shareholders back a wind-down of the fund. Waterfall is still considering making a cash offer to take over the whole fund, with the latest deadline to make a decision approaching on 6 October.
#Kyle elliott waterfall asset management update
PSC denies these claims but Waterfall was named as a preferred successor in August and has now been drafted in to run the fund despite the initial termination notice running until February 2021.Ī stock market update from PSSL said it has agreed to pay PSC a sum representing the approximate balance of the unpaid base management fee, including the unexpired notice period.įrom today (1 October), an investment management agreement has been signed that will see Mirabella Financial Services act as alternative investment fund manager and Waterfall will act as delegated portfolio manager. The investment manager had received a termination notice in February from the PSSL board amid claims that it was refusing to co-operate with a proposed takeover bid from Waterfall Asset Management. NEW YORK, Ap/PRNewswire/ - Waterfall Asset Management ('Waterfall' or the 'Firm'), a global alternative investment adviser, announced the final closing of its closed-end real. Pollen Street Capital (PSC) has officially been replaced as manager of the Pollen Street Secured Lending (PSSL) investment trust.
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