UK, US funds seed new Cairn subordinated financials fund

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UK/US - Cairn Capital is to launch a Subordinated Financials fund with £39m ($60m) seed capital from the Stanhope Pension Trust and San Bernardino County Employees' Retirement Association.

The fund, which is expected to go live on 3 October, aims to deliver double digit annualised returns from investments in subordinated financial debt instruments and primarily legacy instruments pre...

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