THE hedge fund chaired by Sir George Mathewson has taken a £30 million stake in a Swedish debt collector.

The deal sees Toscafund take a 10 per cent holding in Stockholm-based Hoist Finance.

Hoist also buys distressed consumer loans and purchased more than £300 million worth last year.

It is expected to list on its native stock market next year.

Toscafund, which has its headquarters in London, hopes to capitalise when regulators force banks to offload bad debts.