Avenue To Raise £200M In Listing

Sep 24 2014 | 12:49pm ET

Avenue Capital Group is set to launch a new listed hedge fund investing in European debt.

The New York-based firm will list its Credit Opportunities fund on the London Stock Exchange, it said yesterday. Avenue hopes to sell 20 million shares for £10 each, raising £200 million (US$330 million) for the vehicle.

JPMorgan Cazenove will serve as sole bookrunner for the listing.

Credit Opportunities will invest in European corporate loans and distressed debt, Avenue said in a statement to the LSE.

Avenue has more than US$14 billion in total assets.

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