DALLAS, July 31, 2012 /PRNewswire/ -- Behringer Harvard Holdings LLC (Behringer Harvard) and Prospect Capital Management LLC (Prospect Capital) announced today the launch of their joint venture targeting the development, management, and distribution of alternative investment programs. Addressing the challenges presented by today's low-yielding fixed-income vehicles, the programs sponsored by Behringer Harvard and Prospect Capital will focus on high-yielding debt and equity opportunities.
With offices in New York City, Prospect Capital, with its predecessors and affiliates, has a 24-year history of investing in and managing high-yielding debt and equity investments, using both private partnership and publicly-traded closed-end structures.
Through this joint venture, both firms will leverage their expertise in co-advisor roles. Behringer Harvard will lead capital-raising for such alternative investment programs through its relationships with a wide network of independent financial advisors. Prospect Capital will lead the investment strategy for each investment program that the partners co-advise. Both companies offer seasoned management teams with experience in navigating alternative investment programs through multiple economic environments and business cycles.
"We're pleased that this new venture brings together two senior management teams with significant experience and a long track record of successful alternative investment programs," said Mr. Robert Aisner, President and CEO of Behringer Harvard. "We believe that this depth of experience, combined with our disciplined investment approach, bodes well for our ability to successfully execute our investment strategies."
"Prospect Capital is delighted to be working with the experienced team at Behringer Harvard with the goal of bringing differentiated, best-in-class products to the investment community," said Mr. Grier Eliasek, President of Prospect Capital.
"This joint venture is an important part of Behringer Harvard's strategic initiatives to offer a broader range of industry-leading alternative investment opportunities that go beyond our core competencies in commercial real estate," said Mr. Frank Muller, Executive Vice President of Behringer Harvard.
About Behringer Harvard
Behringer Harvard creates, manages and distributes global institutional-quality alternative investment programs for individual and institutional investors. Programs sponsored and managed by the Behringer Harvard group of companies have attracted equity of more than $6 billion and made investments into more than $11 billion in assets. For more information, contact our U.S. headquarters toll-free at 866.655.3600 or our European headquarters at 011 49 40 34 9999 90, or visit us online at behringerharvard.com.
About Prospect Capital
With offices in New York City, Prospect Capital Management LLC is an SEC-registered investment adviser that, with its predecessors and affiliates, has a 24-year history of investing in and managing high-yielding debt and equity investments, using both private partnerships and publicly traded closed-end structures. Prospect Capital and its affiliates call on a team of over 50 professionals focusing on credit investments yielding attractive current income. Prospect Capital manages one of the largest business development companies, which has nearly $3 billion of capital under management (including undrawn credit facilities). For more information, visit our website at prospectstreet.com or call 212.448.0702.
Information in this press release is not an offer to sell securities or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Some of the statements in this press release are forward-looking statements. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under our control, and that we may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from these estimates and projections of the future. Such statements speak only as of the time when made, and we undertake no obligation to update any such statement now or in the future. Past performance is no guarantee of future results. Investments may lose value over time and no return is guaranteed.
SOURCE Behringer Harvard