Fund launches & closures

mCAPITAL eyes $75m for new special sits fund

by

Mark Devonshire
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 situations credit strategy 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