Babson Capital Management is seeking to roll out a new global closed-end fund, Reuters reports. The investment manager’s Babson Capital Global Floating Rate & Income Fund will invest in floating rate assets, including secured loans.
The new vehicle will mainly invest in first- and second-lien secured loans and secured bonds from North American and Western European corporate issuers. Babson Capital will act as the fund’s investment adviser, while Babson Capital Global Advisers will serve as sub-adviser for the vehicle’s European investments.
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