Cairn closes loan fund

Cairn Capital has announced 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 loan credit default swaps. The fund has an open-ended structure and Cairn says it has attracted both US dollar and euro investors. Cairn's leveraged loan business was established at the beginning of 2006. Its main focus has been on collateralised loan obligations. "Given the difficulties

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