LGPS Central launches multi-asset credit fund
Ross: This fund means fewer managers, lower costs and a reduced governance burden
LGPS Central has launched its £680m multi-asset credit (MAC) fund with initial buy-in from four local authority partner funds.
The Local Government Pension Scheme (LGPS) pool has secured support from the Cheshire, Leicestershire, Nottinghamshire, and West Midlands funds.
After a tender process involving more than 80 fund managers, BMO Global Asset Management (GAM) and Western Asset Management Company have been appointed to run the mandate, each receiving half.
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LGPS Central chief investment officer and investment director for fixed income Gordon Ross commented: Pursuing a MAC strategy will give partner funds exposure to multiple fixed income assets/classes through a single fund, thereby resulting in fewer managers, lower costs and a reduced governance burden.
Arctic Journal
NWT
Dominion Diamonds Mines has completed the sale of the Ekati Diamond Mine and associated assets to Arctic Canadian Diamond Company Ltd.
The company has also assumed $70 million U.S. of Dominion’s outstanding debt “under its existing revolving credit agreement and the reclamation obligations of the Ekati mine.”
Arctic Canadian Diamond Company Ltd. is formed and owned by funds and accounts managed by DDJ Capital Management, Brigade Capital Management, LP and Western Asset Management Company, LLC.
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Mining and Exploration10/02/2021 09:31
In conclusion of a months-long saga, Dominion Diamonds Mines has finalized the sale of the Ekati Diamond mine and associated assets to Arctic Canadian Diamond Company LTD, a new company formed and owned by DDJ Capital Management, Brigade Capital Management, LP and Western Asset Management Company, LLC, CBC Canada reports. Operations were fully resumed in January, after a restart in November last year, and all workers are expected to return to work later this month. Dominion s 40% stake of Diavik is not part of the sale.
Dominion Closes Ekati Sale to Arctic diamondworld.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from diamondworld.net Daily Mail and Mail on Sunday newspapers.
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Dominion Diamond Mines ULC ( Dominion or the Company ) announced today that it has completed the previously announced sale of the Ekati Mine and associated assets to Arctic Canadian Diamond Company Ltd. ( Arctic ), a company formed and owned by funds and accounts managed by DDJ Capital Management, Brigade Capital Management, LP and Western Asset Management Company, LLC. The Alberta Court of Queen s Bench (the Court ) approved the sale pursuant to an order issued on December 11, 2020.
Arctic has acquired substantially all of Dominion s assets, excluding Dominion s interest in the joint venture agreement and liabilities relating to the Diavik Diamond Mine, in consideration for the assumption of various liabilities owing to Dominion s creditors, employees, suppliers and surety bond holders, including assuming US$70 million of Dominion s outstanding indebtedness under its existing revolving credit agreement and the reclamation obligations of the Ekati mine. In addition, Arcti