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In preparation for its launch this month, mCAPITAL, the investment management company set up by Mark Devonshire, the former co-head of the Principal Credit Group (PCG), the independent proprietary investment unit at Merrill Lynch, strengthened its management team with several new members, including Banny Leung, a former director in PCG at Merrill, who will become a Senior Partner in Hong Kong responsible for Asian special situations. Leung joins a team which now numbers eight people, four in mCAPITAL’s Hong Kong office and four in London.
The mCAPITAL fund, The European and Asian Special Situations Fund, aims to have AUM of $300-500 million at inception. The Fund, to be launched in the next two weeks, will focus on stressed, distressed, recovery and development capital in Europe and Asia with the objective of providing 15%+ annualised return over the economic cycle.
The Hong Kong team will be augmented further with the arrival of Miko Zhou, who will become an Associate. At mCAPITAL, she will be reunited with James Kwok, a former director in PCG who was appointed Partner for Asian special situations last month. Devonshire, the firm’s CEO and CIO will base himself in Hong Kong.
In London, the mCAPITAL European investment team is ready for launch. It will be headed by Anthony Duyck, another alumni of Merrill’s PCG, who will be appointed a Senior Partner. Other appointees are James Enck, (Senior Partner with specific responsibility for the Telecom & Tech sect...................... To view our full article Click here
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