is readying a new closed-end fund that will invest in retail distressed debt. The San Mateo based firm recently filed paperwork with the SEC on the fund. David Winters
, president, chief executive and chief investment officer of Franklin Mutual Advisers, and Michael Embler
will be the fund's portfolio managers.
The fund will be sold to individuals with $5 million minimum investment. It will also be offered to institutional investors and registered investment advisers.
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