EUROPE - Marwyn to launch recovery fund on SFM

The fund, which has a target of £500m, will provide convertible debt and structured equity to otherwise sound companies that are experiencing short-term liquidity or refinancing problems. The focus of investments will be on European small- and mid-cap public companies with an enterprise value of up to £1bn.

Marwyn Alternative Capital Fund will work with RBS to provide the alternative financing as part of the bank's initiative to boost lending to the small- and mid-cap sectors.

The fund, which is scheduled to launch on 20 July 2009, will be managed by Sir Nigel Rudd and Jonathan Chevenix-Trench, former chairman and chief executive officer of Morgan Stanley International.

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