Hedge fund Marshall Wace is backing a global peer-to-peer investment trust launch that is seeking to raise around £200 million.
The hedge fund is aiming to bring peer-to-peer lending into the mainstream following its decision to acquire a controlling stake in Eaglewood Capital Management, a US-based specialist and online lender.
Subject to approval, P2P Global Investments (P2P) is set to be first peer-to-peer investment trust in the world, with plans to list on the London Stock Exchange over the coming months.
The company is seeking to raise £200 million for the trust, which will be managed by an Eaglewood team. As the prospectus is still set to be approved, the company was unable to confirm the potential yield or return that the trust will target.
Eaglewood will be integrated with other peer-to-peer business assets acquired by Marshall Wace late in 2013, creating a new asset management group to be called MW Eaglewood. Marshall Wace will act as an incubator to the business in Europe, providing support in systems, IT, risk management and portfolio construction.