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XA Investments LLC (“XAI”) is an alternative investment company focused on the closed-end fund market. It has served as an advisor to Thornburg Investment Management (“Thornburg”) and successfully completed Thornburg Income’s IPO Builder Opportunities Trust (("http://www.w3.org/1999/xhtml" Relative ="Not following" href="https://cts.businesswire.com/ct/CT?id=smartlink&, url=https%3A%2F%2Fwww.nasdaq.com%2Fmarket-activity%23msymbol%3Dtbld&, esheet=52469273&, newsitemid=20210730005583& en-US& , anchor=NASDAQ%3A+TBLD&, index=1&, NASDAQ:To be determined). The trust’s shares will begin trading on the Nasdaq on Wednesday, July 28, 2021.
In October 2020, XAI announced the official launch of its registered closed-end fund structure and consulting business. By using the company’s extensive industry network and expertise, XAI clients including Thornburg can take advantage of the strategic closed-end fund market knowledge that has been the core of XA Investments since its establishment in 2016. XAI provides market and investment portfolio insights, and is tailored to provide services and advice to asset management companies seeking to launch new closed-end funds and other permanent capital instruments. Driven by an experienced team with deep investment knowledge and a registered fund industry network, XAI has helped customers participate in all kinds of participation from complete product construction to sales and marketing projects.
Thornburg Income Builder Opportunities Trust (“TBLD”) raised US$580 million and sold 29,000,000 common shares at a price of US$20 per share, excluding the exercise of any option of the underwriter to purchase additional shares. The lead underwriters of the underwriting syndicate are UBS Investment Bank, Wells Fargo Securities, Royal Bank of Canada Capital Markets, Stifel and Oppenheimer & Co. TBLD seeks to provide high current income and additional total returns by investing in a wide range of income-generating securities. Using an active global allocation and a strict bottom-up basic investment process, TBLD invests in stocks and opportunistic fixed income located in the United States and around the world.
“We are very pleased to work with the Thornburg team and are proud to work with them to launch their first closed-end fund product. Through our cooperation, we have laid the foundation for Thornburg’s continued growth in the closed-end fund market,” XA Investments Managing Director Kimberly Flynn said.
XAI specializes in helping institutional managers seeking to enter the growing retail market…
The full story on Benzinga.com
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