London-based hedge fund giant RAB Capital is planning to launch a loan fund managed by Simon Richards. The fund is being spun out of the firms existing credit fund, said Michael Alen-Buckley, co-founder and chairman, and is likely to start with $30-40 million and have a $250 million capacity. The loan strategy has been a subset of the credit vehicle for about a year and has gross annualized returns of approximately 18%, Alen-Buckley said.