One of the largest hedge fund launches this year has been delayed amid continuing difficulties in raising start-up funding. MCapital, a UK distressed debt specialist fund set up by Mark Devonshire, former head of Merrill Lynch’s principal credit trading division, has been unable to meet its target of raising $300m in seed capital. The shortfall means MCapital – which planned to focus on credit opportunities in Europe and Asia – will not yet be able to access follow-on commitments of about $1bn.

This entry was posted by Gwen Robinson on Wednesday, September 23rd, 2009 at 4:47 and is filed under Capital markets, Hedge funds, People. Tagged with mcapital. Edit this entry.