Mark Devonshire Obtains 50 Million Euros for Hedge Fund, FT Says
By Alan Purkiss -
2011-05-03T06:40:09Z
Mark Devonshire, who formerly led Merrill Lynch’s proprietary credit trading business, has received a 50 million-euro ($74 million) “seed” investment for MCapital Investment Management Ltd., his new hedge fund, the Financial Times reported, citing unidentified people familiar with the matter.
The investment, from Advanced Capital, an Italian private- equity fund of funds, will enable MCapital to start raising cash from regular investors, the newspaper said.
To contact the reporter on this story: Alan Purkiss in London on apurkiss@bloomberg.net.
To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net.
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