US hedge fund Elliott Management has an estimated £200m exposure to UK specialist lender Market Financial Solutions (MFS) which collapsed last week sparking renewed concerns over underwriting standards across the asset-backed private credit market, according to a report by the Financial Times.
The exposure was acquired from Chetwood Bank, the Wrexham-based challenger bank majority owned by Elliott, which had participated in a lending facility to MFS. Elliott is understood to have purchased the p...
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