Hedge Funds

BlueBay starts private lending arm with Och-Ziff veteran

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Fixed-income specialist BlueBay Asset Management has launched a private lending business, designed to facilitate the flow of credit to small and medium-sized enterprises (SMEs) in Europe at a time of tight bank credit conditions.

The new business initiative will be headed by industry veteran Anthony Fobel, who was previously a partner at Och-Ziff Capital Management and head of its European private investment business.

The business will capitalise on the ongoing retrenchment from the lending markets by banks and alternative lenders, by offering new senior and subordinated loans to European SMEs for acquisitions, capital growth, restructuring and liquidity situations.