Mon, Aug 21, 2017
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. Opalesque Exclusive: Albright Capital puts a value lens on emerging markets[more]

    Bailey McCann, Opalesque New York: Over the past decade, investors have steadily increased investments in emerging markets private funds. Allocations to the cohort have increased from $93 billion in December 2006 to $564 billion in September 2016, according to data from research firm Preqin. Howe

  2. FinTech - Danger: Crowdfunding on the wrong platform could force you to go public[more]

    From LinkedIn.com: Some equity crowdfunding platforms are putting startups at serious risk. Working with a platform that doesn't structure your deal appropriately could jeopardize your ability to raise future capital or worse, force you to become a public reporting company. The emergence of eq

  3. David Tepper says we're 'nowhere near an overheated' stock market[more]

    From Marketwatch.com: Billionaire David Tepper thinks comparing this current stock-market environment with the overheated markets of 1999 is "ridiculous." The hedge-fund manager, who runs Appaloosa Management, told CNBC in a phone interview on Tuesday that the market's record run, notwithstanding la

  4. Opalesque Exclusive: Altegris and Artivest partner on distribution for alternative funds suite[more]

    Bailey McCann, Opalesque New York: California-based investment firm Altegris has partnered with New York-based alternative investments platform Artivest on distribution for $1 billion in alternative funds. The partnership also launches Artivest's capabilities to offer alternative solutions to acc

  5. Investing - Buffett's Berkshire Hathaway will not increase its Oncor offer, Travel-tilting hedge funds are investing in airlines and online travel agencies[more]

    Buffett's Berkshire Hathaway will not increase its Oncor offer From Reuters.com: The energy unit of Warren Buffett's Berkshire Hathaway Inc said on Wednesday it will "stand firm" on its $9 billion offer to acquire 80 percent of Oncor Electric Delivery Company LLC and will not increase it