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Commentary
Alternative Strategies Fund Third Quarter 2020 Commentary
All five sub-advisors generated positive performance during the quarter, and three of the five are positive for the year. MORE
DCI, a pioneer in quantitative credit investing across the global investment-grade, high-yield, and emerging corporate credit markets, and a sub-advisor to iMGP Alternative Strategies Fund, has agreed to be acquired by Blackstone (NYSE:BX). DCI will become part of Blackstone Credit, a global leader in private lending, syndicated leveraged loans, and collateralized loan obligations.
“There will be no substantive change for shareholders of the iMGP Alternative Strategies Fund as a result of this acquisition. DCI will continue to manage their distinctive sleeve within our fund,” said Jason Steuerwalt, Litman Gregory Principal and Co-Portfolio Manager. DCI, based in San Francisco, applies a proprietary, fundamental-based, technology-driven model to deliver differentiated returns to clients. The firm is led by a team of seasoned professionals who are recognized experts in quantitative and systematic fixed-income research.
“We think DCI will benefit from access to the resources of the broader Blackstone Credit group,” Litman Gregory Chief Investment Officer and Co-Portfolio Manager Jeremy DeGroot added, “and we are particularly pleased that DCI’s strategy will continue to be exclusive to iMGP Funds and our shareholders in a 40Act multi-manager vehicle, maintaining the unique profile and attributes of our fund.”
Tim Kasta, CEO of DCI, said: “Joining Blackstone Credit will provide DCI’s team and investors with access to unparalleled institutional resources and asset management expertise and accelerate the development of innovative solutions in corporate credit.”
For more information on the iMGP Alternative Strategies Fund, please read the fund’s overview or contact our team and for more information on the DCI transaction with Blackstone, please read the announcement here.
All five sub-advisors generated positive performance during the quarter, and three of the five are positive for the year. MORE
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