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Mediobanca Floats CoCo Credit Fund
Duemme and hedge fund Algebris Investments have launched a new credit fund.
Duemmeand hedge fundAlgebris Investmentshave launched a new credit fund,The Wall Street Journalreports. TheDuemme CoCo Credit Fundwill be specialized in investing contingent convertible (CoCo) bank bonds.
The CoCo bonds portfolio would convert into equity if a bank’s capital ratios fell below a certain threshold. Duemme is a division ofBanca Esperia, in which Mediobanca owns a 50% stake.
Click here for the story fromThe Wall Street Journal.