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mCAPITAL secures €50 m in seed cash Financial Times

After a fraught two-year money-raising period, the former head of Merrill Lynch’s proprietary credit trading operation, Mark Devonshire, has secured backing for his new hedge fund, MCapital.

Mr Devonshire, one of the world’s top distressed debt traders, has received a €50m seed investment from the Italian private equity fund of funds Advanced Capital, according to people familiar with the plans.

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