Cognis wins backing for new fund

Cognis Capital Partners, a hedge fund specialising in European high-yield, distressed and mezzanine debt, has secured $20 million in funding from JPMorgan as seed capital towards its first stand-alone fund.

Cognis already manages €370 million in hedge fund money on behalf of Royal Bank of Scotland, where the team previously worked within a special investment vehicle.

The new fund, Cognis 1, is expected to be larger than the €370 million portfolio that Cognis already manages, although the firm

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