Duemme and hedge fund Algebris Investments have launched a new credit fund, The Wall Street Journal reports. The Duemme CoCo Credit Fund will be specialized in investing contingent convertible (CoCo) bank bonds. The CoCo bonds portfolio would convert into equity if a bank’s capital ratios fell below a certain threshold. Duemme is a division of Banca Esperia, in which Mediobanca owns a 50% stake.
Click here for the story from The Wall Street Journal.