Launches & Closures

Devonshire ready to launch special sits fund in early July


Mark Devonshire's mCapital has been one of the more eagerly awaited start-ups of 2009 in the Asia-Pacific region. The firm has now been accorded SFC approval in Hong Kong and the European and Asian Special Situations Fund is expected to launch in early July with about $300 million in assets under management.

Mark Devonshire

mCapital will operate out of Hong Kong and London initially with about 15 staff (11 professionals). Devonshire will be based in Hong Kong. A CFO is expected to join the firm soon.

mCapital's investment team has worked together at Merrill Lynch since