bond investing

$100M Equity Play Eyes Tail-End Buys, Bail-Outs

DALLAS-In aligning as joint venture partners, Behringer Harvard and PGGM have built in flexibility to their agreement for the rapid deployment of $100 million in equity. The multifamily investment scope runs the full development gamut, including bail-out deals.

Behringer Harvard's been heavily investing this year in class A multifamily and new student housing, but it's uncertain if any acquisitions to date will be rolled to the JV, Jason Mattox, the Dallas-based investment group's executive vice president, tells GlobeSt.com. It's also open-ended as to which of the several Behringer funds will end up with the JV's deeds. There might even be more than one, he explains. "The PGGM agreement provides for a great deal of flexibility in the way that the money is invested," he says. Unless the strategy is altered, leveraged plays are destined to reel in about $400 million of real estate.

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Fund Times: Longtime Manager Rejoins First Eagle Funds

William Blair Bond Fund became available to investors May 1, 2007 as the firm's second fixed-income offering. Bond Fund will be the firm's first intermediate-term bond offering, with an investment-grade mandate allowing no more than 10% of assets in high-yield securities. James Kaplan, Christopher Vincent, and Benjamin Armstrong will manage the fund, with the former two staying on as comanagers of William Blair Income . As a team, they have managed that short-term fund for nearly five years, delivering above-average returns in that time.

RS Approves Merger of Two Tech Funds
RS Internet Age and RS Information Age will soon be one. RS's Board of Trustees approved the merger of Internet Age into Information Age pending shareholder approval. Both funds compete in the specialty-technology category and hold less than $100 million in assets, though Internet Age was slightly more expensive.

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Special Investigations Unit called to Greater Sudbury following ...

Investigators from the province's Special Investigations Unit (SIU) were called to Greater Sudbury following the sudden death of a 37-year-old local man.

The man, identified by Greater Sudbury Police only as a male, aged 37, was pronounced dead at hospital in Sudbury shortly after being removed from a home located at 1378 Bellevue Ave. in the early morning hours Saturday.

An SIU news release says police received a phone call just before midnight Saturday to help paramedics deal with an "aggressive patient".

The patient "became non-responsive" and was taken to hospital where he was pronounced dead 30 minutes later.

Investigators from the SIU were called around 2:37 am Saturday, says the news release.

A total of six investigators from the SIU were on the scene throughout the remainder of the weekend.