Launches & Closures

Devonshire readies for second round of funding


Robert Tomei
Mark Devonshire, the former Merrill Lynch credit trader, is now preparing for the next bout of fund raising for mCapital’s European and Asian Special Situation Fund after securing additional seed money from an Italian fund of private equity fund.

Devonshire and his team at mCapital says they have attracted a total of $74 million in seed funding from Italian firm Advanced Capital and Amsterdam-based IMQubator. The infusion from Advanced Capital has paved the way for the launch of their fund stalled for two years after it encountered difficulties in attracting interest from asset