The investment makes Dart’s fund the third largest shareholder in the FTSE-listed firm.
Spring Mountain this month also emerged with a three per cent stake in Imperial Brands, making it one of the company’s ten largest shareholders.
Dart has gained a reputation as a pioneer in vulture funds, where investors buy up the debt of countries in financial distress and profit from its eventual restructuring.
The investments, first reported by the Financial Times, come as the tobacco industry faces a slew of regulatory challenges over health concerns and increasing awareness of environmental, social and corporate governance (ESG) issues.