Fund launches & closures

Devonshire's mCapital set for July launch with IMQ seeding

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Mark Devonshire's mCapital European and Asian Special Situations Fund is finally set for a July 1 launch, after securing a €25 million anchor investment deal from IMQubator, the Amsterdam-based emerging manager fund backed by Dutch pension fund giant APG.

Devonshire, a well known name in the Asian credit circles and formerly the Hong Kong-based head of Merrill Lynch's principal credit investments for Europe and Asia running almost $3 billion, has been looking to launch the fund early last year and has succeeded in keeping his team together despite the long wait.

The deal with mCapital is IMQ's second Asian