Pilgrim Baxter & Associates is preparing to offer a new limited partnership fund to invest in pre-emerging and small-cap growth companies, taking advantage of Pilgrim Baxter's experience in the microcap equity area. The fund will invest in late mezzanine debt and special situation small-cap stocks. It will buy private placements of pre-emerging firms and stocks of high-growth companies working through problems related to growth, transition and other events that have depressed their price, said Harold Baxter, chairman and CEO.
The firm will soon begin raising funds, targeting a $100 million close around June, said Mr. Baxter.
