Pardus Capital is planning to float a fund that will acquire stakes in European companies, Financial Times reports. The U.S. hedge fund manager will roll out PCM, which will invest up to 30% of its capital in activist positions in Europe. The New York-based firm will also launch separate fund vehicles for PCM to take stakes in troubled companies in partnership with institutional investors. Pardus Capital, which is managed by Karim Samii, is in talks with investors to raise between $200 million and $500 million.

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