Hedge Fund Boosts U.K. Bet With $1.3 Billion Funding Circle Deal
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Amid warnings from politicians and central bankers of potential economic damage from Britain’s exit from the European Union, a New York investor is betting all’s well with the country’s small businesses.
Waterfall Asset Management, a credit-focused hedge fund with $7.3 billion in assets, plans to fund 1 billion pounds ($1.28 billion) of loans to small and medium-sized U.K. companies via Funding Circle Holdings Plc, according to a statement on Friday. Deutsche Bank AG is partially financing Waterfall’s investment.