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Hedge fund linked to RBS collapse backs bid for branches

Telegraph – Toscafund, the $1.3bn (£830m) fund chaired by ex-RBS chairman Sir George Mathewson, has emerged as a backer of Andy Higginson’s W&G Investments, which hopes to buy the Scottish bank’s “Project Rainbow” unit.

W&G Investments is one of three bidders trying to buy the unit — alongside consortiums led by AnaCap and Corsair Capital — which will control 5pc of the SME market and have 2m retail customers.

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