Loan Opportunities Fund – First Close
Story date: 2008.1.23
Cairn Capital, an independent credit markets group, today announces the first closing on its Loan Opportunities Fund.
The fund will focus on the European leveraged loan market and has wide investment criteria including the use of both long and short LCDS. The fund has an open ended structure and has attracted both US$ and EURO denominated investors.
Cairn`s leveraged loan business was formally established at the beginning of 2006 and invests throughout the debt capital structure in LBOs, the main focus to date having been on developing its CLO business. The portfolio management and research team now numbers seven individuals in London and is supported by a dedicated, independent research team of five further individuals, based in Mumbai.
Commenting on developments, Andrew Burke, the head of Cairn Capital’s leveraged loan business, said:
"Given the difficulties in the credit markets and the issues over liquidity we are delighted by the support shown by our investors and we will initially deploy the fund to take advantage of the dislocation in the secondary market."
