Hedge fund enables insurers to capitalise on bank deleveraging
Tenax Capital fund will buy bank loans and provide debt capital to corporates
Hedge fund manager Tenax Capital has raised €250 million (£197 million) from insurers in a fund that invests in corporate bonds and loans that banks are seeking to offload.
Tenax is seeking to take advantage of the de-leveraging process that the banking sector is currently undergoing and the contraction in the supply of credit arising from the recent financial crises.
The fund will buy corporate loans and bonds from banks, as well as provide finance directly to corporates, with the aim of
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