|Hedge fund Toscafund will be launching a UCITS III version of its mid-cap fund later this month. According to a recent Reuters article, the firm’s current mid-cap fund has raised $110 million so far and the new fund is estimated to close at $300 million. The UCITS III version will follow European Union regulations on transparency and liquidity but the investment strategy will remain unchanged.|
Toscafund was founded by CEO Martin Hughes as a subsidiary of Old Oak Holdings, a financial service and investment group. The firm employs activist shareholder tactics and is most known for its involvement with Aberdeen Asset Management and ABN AMRO.