CityWire – Hedge fund giant GLG Partners has launched a fund to exploit the debt problems across European corporations, according to report in the Financial Times.

GLG, one of the world’s largest alternative asset managers, is said to have started trading the distressed strategy earlier this month. The strategy has been employed in the firm’s credit and market neutral funds since last July.

According to the Financial Times, the fund will be managed by Galia Velimukhametova, who joined the firm last summer from $16 billion (£10 billion) hedge fund King Street Capital where she was a managing director and responsible for European strategies.

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Tags: debt problems, glg-partners, hedge fund, market-neutral-funds

Guardian.co.uk – Investors are highly concerned about potential debt problems in unlisted European real estate funds, causing them to drastically cut back equity commitments to the sector, an industry body said on Thursday.

In a survey of investors, 88 percent said they were either "very concerned" or "concerned" about property funds breaching covenants, INREV (the European Association for Investors in Non-listed Real Estate Vehicles) said in an industry conference held in Greece.

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Tags: commitments, covenants, debt problems, european real estate, greece, guardian, property funds, real estate funds, uk-investors