Memphis, TN-based Barrier Investments, LLC has launched the Barrier Credit ABS Master Fund, Ltd. which focuses on home equity asset-backed securities.
Launched on 30 June 2006 with AuM of USD 25.5 million, the fund employs an enhanced asset-backed securities strategy focused primarily on the home equity sector. Barrier's Management Team consists of Jason Stewart, CFA, Jeffrey Barnette and Demetri Patikas.
Patikas, president of the investment adviser, said: 'Our objective is to invest primarily in mezzanine and subordinated tranches of home equity loan securitizations. We are particularly excited that new developments in the synthetic ABS market allow us to express positive and negative views on credit in order to achieve our goals.'
Barrier charges a 1% management fee and a 15% performance fee. Minimum investment in the Fund is USD 1 million. The Fund takes monthly subscriptions and has a one year lockout with quarterly redemptions thereafter. Bear Stearns serves as prime broker.
Barrier Investments, LLC is registered as an investment adviser with the Securities and Exchange Commission. Barrier manages the Barrier Credit ABS Master Fund, Ltd. and has offices in Memphis, TN and McLean, VA