Canyon Capital Advisors' former top man in London will launch a hedge fund of his own next year.
Mans Larsson has founded Makuria Investment Management in London. The new firm will launch a credit hedge fund early next year.
Makuria, which is not yet registered with the Financial Services Authority but is registered with Companies House—its offices in London's hedge fund haven, Mayfair—will focus on European distressed debt and special situations, Reuters reports.
The Swedish Larsson left Canyon in April. Before joining the hedge fund, he worked at Silver Point Capital and at Goldman Sachs' private equity arm.