Prytania Asset Management appointed as Sub-Advisor to the Yieldstreet Prism Fund Inc.
December, 2023
NEW YORK, US – Yieldstreet Prism Fund Inc. shareholders, at the special meeting held on October 19th 2023, voted to approve the appointment of Prytania Asset Management as a sub-advisor to the Fund. Yieldstreet recommended the appointment of Prytania with the view of capturing compelling opportunities in the structured credit markets, particularly towards collateralised loan obligations (CLOs) and commercial mortgage backed securities (CMBS), given the firm’s specialised expertise in these asset classes. Investments will be focused primarily on US dollar denominated issuances across both investment grade and sub-investment grade tranches.
“We are pleased to work alongside Yieldstreet to develop a greater focus on structured credit in the Prism Fund. We continue to find a wide range of interesting opportunities across the markets that could offer appealing risk-adjusted returns to the Fund’s investors” said Mark Hale, CIO and CEO at Prytania Asset Management.
"We are delighted to work with Prytania to expand our structured credit offering, providing higher return and diversification potential to the Fund's stockholders at a time when credit strategies are in high demand given their attractiveness relative to other asset classes" said Ted Yarbrough, Yieldstreet Chief Investment Officer and newly-elected Fund director.
The Yieldstreet Prism Fund Inc. is a diversified portfolio invested across multiple asset classes such as real estate, structured credit, private credit, legal finance, art and many others. The Fund is available to all investors on their platform. It provides investors the option of either quarterly distributions or dividend reinvestment, and may offer quarterly tenders to repurchase shares to provide liquidity.
About Prytania Asset Management
Prytania Asset Management is an independent structured credit specialist investing in developed markets in the US, UK and Europe. Founded in 2003, the Firm manages $2.1 billion and offers a suite of funds and separate managed accounts to provide investors with access to global structured credit opportunities of different risk/return profiles. The Firm is headquartered in London with a presence in the United States.
About Yieldstreet
Yieldstreet is a leading platform that offers investors an avenue to invest in curated private market alternative investments. Headquartered in New York, the firm was founded in 2015 and currently has more than 420,000 members with $3.2 billion invested across various private fund strategies spanning structured credit, real estate, private credit, art and many other strategies.
For enquiries, please contact: investorrelations@prytania.com
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