Sign up for free newsletter

 

PSource IPO raises GBP30m despite tough conditions


Despite difficult conditions, Psource Capital has raised GBP30million for a London-listed hedge fund manager and has further cash-raising plans for the fund.

PSource Structured Debt, believed to be the first hedge fund to list on the London Stock Exchange's Main Market under the stringent chapter 15 listing rules, will be managed by New York-based Laurus Capital Management. It will float on Friday and invest in senior secured debt and warrants issued by North American growth-oriented micro-cap companies.

The success of PSource's fund is in contrast to other recent hedge fund flotations, which have been adversely affected by the US subprime mortgage crisis. Last week offerings from Britain's Man Group and US firm Third Point both raised less than targeted.


latestjobs
ETF Trader – Top U.S Bank – Greater NYC Area

Sat, 13 Feb 2016 00:00:00 GMT

Energy Trading Role – Global Trading Firm - Texas

Sat, 13 Feb 2016 00:00:00 GMT

Investment Banking Managing Director - TMT M&A

Sat, 13 Feb 2016 00:00:00 GMT

events
2 days 6 hours from now - Cairo
2 days 6 hours from now - Dubai
3 days 6 hours from now - New York
2 weeks 3 days from now - New York
specialreports
other gfm publications