Launches & Closures

Devonshire lines up $500m for mCapital credit/distressed fund


Mark Devonshire, a well-known trader and money manager in the credit and distressed space in Europe and Asia over the past 20 years, is getting ready to launch his mCapital operation at the end of April, with up to $500 million in day-one investment.

Mark Devonshire

Devonshire, who left Merrill Lynch last year after six years in charge of European and Asian activities in the firm's big Principal Credit Group, expects seed capital of at least $200 million to be in place from a core group of four backers. He is also attracting high interest from