Toscafund is raising capital to acquire up to £500m of UK residential mortgages, the FT reports. The London-based hedge fund has already closed a £250m fund of UK subprime mortgages, launched late last year. The two new funds will position Toscafund as one of the largest operators in the European secondary mortgage market, highlighting the willingness of more nimble market participants to step into the lending void left by banks.

This entry was posted by Paul Murphy on Monday, April 26th, 2010 at 5:42 and is featured in The 6am Cut London (26 Apr 2010) . Tagged with subprime, toscafund. Edit this entry.