Three Seas Capital looking to raise $100 million for fund to invest in leveraged loans

By Sara Rosenberg

New York, Sept. 10 - Three Seas Capital LLC is in the process of trying to raise $100 million for its first fund, and that fund would invest only in senior secured leveraged loans, David B. Walls, CFA, co-founder and principal of the firm, told Prospect News on Thursday.

The fund will focus on more liquid names that are good fundamental credit plays. It will not be sector specific.

Walls explained that the goal is to be invested in loans that are readily tradable in the secondary market so that the fund can exit and enter them easily.

Three Seas Capital, a registered investment advisor specializing in leveraged loans, is based in Dallas.

Michael D. Rich, CPA, is the other co-founder and principal of the firm.

Rich was previously a portfolio manager at Highland Capital Management LP, where he managed portfolios of senior secured bank loans, high-yield bonds and equities, and Walls was previously a senior portfolio manager and partner at Highland, where he managed a portfolio of senior secured bank loans and high-yield bonds.

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