Babson Capital has joined a growing list of money management firms starting closed-end loan funds. In Babson’s case, the fund will invest in leverage loans and high yield bonds in both North America and Western Europe.

The Babson Capital Global Floating Rate & Income Fund, which will target speculative-grade companies, will invest primarily in secured loans, secured bonds and other income-producing instruments, according to a prospectus filed with the Securities and Exchange Commission last week.

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