New York-based hedge fund Sound Point Capital makes investments at all levels of the capital structure. Steve Ketchum, a veteran of the credit markets with nearly three decades of experience, founded it in 2008. Stock and equity-linked securities are included in the fund’s investment strategy. Through March 2020, the Sound Point Credit Opportunities Fund, LP generated annualized returns of 3.42%. Recently, the fund has been primarily invested in communications stocks. The fund was in charge of $17.89 billion in assets as of November 20, 2021.
Insider Monkey checks out the 9 stocks that credit markets expert Steve Ketchum likes. Recently, Loral Space and Communications Inc, Telesat, and the Public Sector Pension Investment Board merged their businesses. Over the past four quarters, only one hedge fund has taken a position in LORL. During the third quarter, Sound Point Capital sold a quarter of its stake in Clear Channel Outdoor Holdings, Inc. Since then, there has been a 33% drop in hedge fund positions. One of the world’s oldest and largest advertising companies has more than 500,000 displays. Shares of Mudrick Capital Acquisition Corp II were purchased by Sound Point Capital during the third quarter. During the third quarter, the IPO of the blank check company raised $275 million. Citron Research dubbed Mudrick a long-term project a month after the failed Topps merger. For more details, click 9 Stocks That Credit Markets Expert Steve Ketchum Likes.