Hedge Funds

Quantek restructures ABL fund

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Quantek Asset Management of Miami is restructuring its Latin America-focused asset-based lending fund into a closed-end, private-equity style vehicle.

A Quantek spokeswoman confirmed the restructuring of Quantek Opportunity Fund but declined to comment on other details.

The move comes after an investor sought to withdraw several hundred million dollars, according to two persons familiar with the firm. The vehicle is managed by Alberto Franco and deploys an asset-based lending strategy with a particular focus on structured credits, mezzanine debt, collateralized notes, receivables and project finance, primarily in Mexico and Brazil. As recently as June 2008, the fund managed $953