Tue, Mar 19, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge fund Toscafund buys 10% stake in Hoist Finance worth $37.1m

Monday, May 26, 2014

Komfie Manalo, Opalesque Asia:

London-based hedge fund manager Toscafund Asset Management bought a 10% stake in Stockholm-based debt purchaser and collector firm Hoist Finance, worth $37.1m (GBP 30m).

A report from the FT said that by buying into the Swedish company focused on recovering distressed consumer loans, Toscafund fund will have the opportunity to exploit regulatory pressure on European banks to offload their bad debts.

The report added the hedge fund group is planning to launch a stock listing on its home exchange in 2015.

Hedge funds have been pushing into alternative finance before European banks are required to sell their assets, including consumer loans and reduce their balance sheets with the aim of increasing their capital.

At the start of 2014, London hedge fund Marshall Wace opened a peer to peer lending fund. Another hedge fund, Omni Partners launched a fund focused on secured lending to property developers.

Background Toscafund, which was founded in 2000 by Martin Hughes, manages equity funds specializing in global financials and UK mid cap activism. Early this month, its Tosca Opportunity (and sister fund, Tosca Mid Cap) announced it ......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1