Launches & Closures

Devonshire's mCAPITAL eyes raising $75m for new special situations credit fund

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A hedge fund run by ex-Bank of America Merrill Lynch credit trader Mark Devonshire is launching in July the second series of its special situation credit fund investing in distressed and stressed-out credits in Europe and Asia.

It is understood that the second fund will be backed by the original seeders of mCAPITAL Global's European and Asian Special Credit Opportunities Fund to the tune of at least $30 million.

The specialist multi-strategy manager focuses on investing across the capital structure with core strengths in distressed and restructuring opportunities.

It is aiming to raise at least $75 million from