Keydata funder CarVal "no white knight"

Laura Miller
clock

The US hedge fund which has given Keydata a brief reprieve by plugging a short-term funding gap is "no white knight", warns an IFA involved in the deal.

Hedge fund CarVal has stumped up £3.5m to stave off the controlled liquidation of Keydata. This was set to begin yesterday with the first wave of lapsed policies within some Keydata investments, if funding had not been found. The US company is currently the sole group to be undergoing due diligence with Lifemark, the Luxemburg-based company Keydata founder Stewart Ford set up to provide some Keydata products to investors through advisers. It now has a six week "exclusivity period" in which it is the only company allowed to put together a longer-term funding proposal for Keydata. This ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers expecting more of asset managers since Consumer Duty

Advisers expecting more of asset managers since Consumer Duty

‘We actually need to understand one another better’

Hope Coumbe
clock 28 March 2024 • 1 min read
Fears tech limitations could stall MPS on its upward trajectory

Fears tech limitations could stall MPS on its upward trajectory

‘There have been a few changes and challenges around growth in general’

Hope Coumbe
clock 27 March 2024 • 1 min read
Partner Insight: Beyond 60/40

Partner Insight: Beyond 60/40

Invesco
clock 27 March 2024 • 5 min read