Asset-based lending specialist Old Hill Partners has launched a new hedge fund to take advantage of rising interest in private debt among institutional investors.  The new vehicle will seek to generate current income by originating and investing in the senior secured credit instruments of corporate and asset-backed borrowers while also maintaining an emphasis on preservation of capital, according to information seen by FINalternatives.  Old Hill is targeting $300 million for the fund. Given the nature of private debt investments, it is using a hybrid private equity-like structure in which the life of the fund is divided into a capital raise...