Sat, Oct 22, 2016
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. M&A - U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga, Hedge fund Parvus shows hand, toppling William Hill merger deal[more]

    U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga From The fierce battle to buy Britain's biggest private equity group has come to an unexpected conclusion, with the original bidder walking away with the prize. SVG Capital has agreed

  2. Marc Lasry: Energy is still a phenomenal opportunity[more]

    From Distressed debt specialist Marc Lasry said energy debt is still a "phenomenal opportunity" because investors can get "massively overpaid" for the risk they take on. There are "huge opportunities" in the energy sector especially in restructurings, the Avenue Capital Group CEO said Tues

  3. Opalesque Exclusive: Ex-SAC manager re-emerges with market neutral hedge fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A manager re-emerged from the SAC battleground last year to launch his own hedge fund under the umbrella of New York-based investment firm Endicott Group.

  4. North America - Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation, Billionaire hedge fund titans Dinan, Lasry on election, markets and best investment ideas[more]

    Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation From Kyle Bass, founder of Hayman Capital Management, on Wednesday warned that the U.S. is headed toward so-called stagflation. Stagflation is typically described as persistently high inflation and hi

  5. Other Voices: Follow the advice of investment consultants - I think not[more]

    Mark Rzepczynski, Founding Partner, Chief Investment Officer AMPHI Research and Trading, writes on Harvest Exchange: Investment consultants are a force to the reckoned with in the pension world. They advise and drive many pension decisions around the globe. Consultants literally control trillion