Mon, Jun 18, 2018
A A A
Welcome Guest
Free Trial RSS
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

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Lyxor recommends stockpicking strategies, L/S equity hedge funds well equipped for turbulent markets[more]

    Matthias Knab, Opalesque: Market developments in May saw some trend reversals across the fixed income and commodity space. On the one hand, the unfolding of the Italian political crisis coincided with a rebound of U.S. Treasuries during the second half of May. On the other hand, the rising likeli

  2. North America - George Soros: 'Everything that could go wrong has gone wrong'[more]

    From Marketwatch.com: George Soros, tell us how you really feel. 'Everything that could go wrong has gone wrong. [Trump] is willing to destroy the world.' The 87-year-old billionaire clearly isn't shy about expressing his generally liberal views and distaste for Trump's "America First" platform,

  3. Paper: The performance of stocks actively pitched by hedge funds[more]

    Using a novel dataset drawn from investment conferences from 2008 to 2013, I show that hedge funds take advantage of the publicity of these conferences to strategically release their book information to drive market demand. Specifically, hedge funds sell pitched stocks after the conferences to ta

  4. North America - US fundraising for special purpose acquisition vehicles hits record this year[more]

    From AFR.com: Special purpose acquisition vehicles (spacs) are hitting the US market at the fastest rate on record, attracting the likes of Goldman Sachs and hedge fund investor Daniel Loeb for the two largest such deals in 2018. Spacs have raised $US4.5bn so far in 2018, the largest amount fo

  5. Investing - Man Group and AQR try to take aim at private equity industry, Hedge funds poised to be winners in AT&T-Time Warner deal[more]

    Man Group and AQR try to take aim at private equity industry From FT.com: The popularity of private equity investments has prompted asset managers such as Man Group and AQR to devise strategies that aim to replicate PE returns but at a much lower cost to investors. Both companies a