Marshall Wace subsidiary MW Eaglewood is launching a private equity version of its marketplace lending focused fund.
MW Eaglewood is launching a new private equity fund with a target raise of $300m, which it plans to have raised by the close of 2016. The news is based on a tip-off given to Reuters. The new fund will replicate the well-known £870m investment trust P2P Global Investments, which invests across the global marketplace lending sector.
The private equity fund will lock up investor cash for seven years. It will be seek to raise capital from institutional investors and take leverage. P2P Global Investments was open to both retail and institutional investors.
In terms of origination, the new fund appears to be similar to P2P Global Investments, in that it will likely invest across a range of marketplace lending platforms. Although rumours suggest that the new private equity vehicle may have a broader mandate.
P2P Global Investments endured a rocky patch in the summer, with CEO Simon Champ (pictured above) blaming lower-than-expected returns on volatility in the US market and fallout from Brexit. The fund has experienced a bounce-back in recent months, but continues to trade at a discount.