Asset-based lending wave hits market

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Following the credit crunch, the market has blossomed with opportunities for alternative sources of lending - as banks tighten their lending terms - and a raft of asset-based lending funds of funds, as well as funds focused on distressed opportunities have hit the market. Indeed, Eden Rock Capital Management, founded in 2001 and one of the asset-based lending trailblazers, launched the Eden Rock Asset Based Lending Fund.

The new Eden Rock fund is invested with some 20 underlying managers and has more than $30 million in assets. It is targeting unleveraged net returns of 8% to 11% with