Record fund listings on London Stock Exchange in first half of 2015

  • 14 fund IPOs on London’s markets in first half of 2015, raising £2.3bn, a 6 per cent increase on last year
  • London attracts growing numbers of international fund managers across diversified range of funds
  • 20 per cent of money raised is for US based managers
  • 461 funds now listed on London markets

London Stock Exchange today announces that there have been 14 fund IPOs on its markets to date in 2015, raising £2.3bn. This is the most money raised in the first half of the year for the last 10 years and reflects London’s continuing attractiveness to international fund managers, particularly from the US.

Most notable is the increasing diversified nature of the funds choosing to list in London, from microcap and infrastructure specific funds to generalist issuers. In addition, two high profile issuers have added a secondary line in London: Volta Finance Limited and Fondul Proprietatea, whose primary listings are in Amsterdam and Bucharest respectively.

Darko Hajdukovic, Head of Research and Product Innovation, Primary Markets London Stock Exchange Group:

This year’s surge in fund listings demonstrates London’s ability to finance a variety of issuers from across the world and we expect to see a similar trend continuing in the second half of 2015. Particularly encouraging is the return of private equity funds to the market. The listing of Apax Global Alpha Limited marks the first private equity fund admission since 2010 – a significant success for London and the industry.”

Key statistics:

  • This year’s Fund IPOs have performed well since listing, with a weighted post IPO price performance of 10%
  • Notable listings include: the private equity fund Apax Global Alpha Limited, the first private equity fund listing since 2010, Volta Finance Limited, an Amsterdam listed fund which added a line in London to “broaden their liquidity” and the Gabelli Value Plus Trust, run by one of the largest US managers
  • 25 funds are now listed on Specialist Fund Market
  • The largest fund and the second largest IPO by money raised to date in 2015 is Woodford Patient Capital Trust, which raised £800 million in April
  • 11 of London’s listed funds are now run by US fund managers

More information on the Specialist Fund Market can be found at: www.londonstockexchange.com/companies-and-advisors/sfm/home/sfm.htm  

 

- Ends -

 

For further information:

Media

 

Tom Gilbert
Alex Ritterman

+44 (0)20 7797 1222

newsroom@lseg.com

 Notes to editors:

 2015 Fund Listings To Date:

 

Issuer

Admission date

Deal Value £

Market Cap at Offer (£m)

Market

Apax Global Alpha Limited

15-Jun-15

218,200,000

585.4

Main Market

Puma VCT 11 PLC

12-Jun-15

27,900,000

27.9

Main Market

Drum Income Plus REIT

29-May-15

31,900,000

31.9

Main Market

Amedeo Air Four Plus Ltd

13-May-15

202,000,000

202.0

SFM

Toro Limited

08-May-15

240,022,361

240.0

SFM

AEW UK REIT plc

07-May-15

100,500,000

100.5

Main Market

Ranger Direct Lending Fund

01-May-15

135,000,000

205.0

Main Market

Miton UK MicroCap Trust plc

30-Apr-15

50,000,000

50.0

Main Market

Woodford Patient Capital Trust

21-Apr-15

800,000,000

800.0

Main Market

VPC Specialty Lending Investments

17-Mar-15

200,000,000

200.0

Main Market

Gate Ventures

10-Mar-15

3,242,000

3.2

AIM

Sequoia Economic Infrastructure Income Fund

03-Mar-15

150,000,000

150.0

Main Market

Gabelli Value Plus+ Trust

19-Feb-15

100,101,001

100.1

Main Market

Grand Group Investment

28-Jan-15

7,100,000

27.1

AIM

 

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