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Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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Canadian Firm Launches $553M Hedge Fund

Jan 09, 2014
Jing Chen

Canadian hedge fund firm West Face Capital has started a new special situations fund.

Bloomberg reported that the Toronto-based firm launched the credit hedge fund last month with $369 million in assets. West Face is looking to raise a total of $553 million for the new offering, which allows the firm to take on debt with longer maturities and from companies that have “less liquidity” than is appropriate for the firm’s core funds.

The fund will invest in mainly opportunities in Canada, including second-lien debt, mezzanine loans, acquisition financing, and bridge loans focused on special situations.

Known for its activist approach, West Face manages approximately $1.8 billion in assets. 

 

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