There have been 14 fund IPOs on the London Stock Exchange markets in 2015 to date, raising £2.3bn from investors across the UK.
This is the most money raised in the first half of the year for the past 10 years.
Darko Hajdukovic, head of research and product innovation for primary markets at London Stock Exchange Group, said: “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.”
| 2015 fund listings to date | ||||
| Issuer | Admission date | Deal value £ | Market cap at offer (£m) | Market |
| Apax Global Alpha Ltd | 15 June | 218,200,000 | 585.4 | Main market |
| Puma VCT 11 Plc | 12 June | 27,900,000 | 27.9 | Main market |
| Drum Income Plus REIT | 29 May | 31,900,000 | 31.9 | Main market |
| Amedeo Air Force Plus Ltd | 13 May | 202,000,000 | 202.0 | SFM |
| Toro Ltd | 8 May | 240,022,361 | 240.0 | SFM |
| AEW UK Reit Plc | 7 May | 100,500,000 | 100.5 | Main market |
| Ranger Direct Lending Fund | 1 May | 135,000,000 | 205.0 | Main market |
| Miton UK Microcap Trust Plc | 30 April | 50,000,000 | 50.0 | Main market |
| Woodford Patient Capital Trust | 21 April | 800,000,000 | 800 | Main market |
| VPC Speciality Lending Investments | 17 March | 200,000,000 | 200 | Main Market |
| Gate Ventures | 10 March | 3,242,000 | 3.2 | Aim |
| Sequoia Economic Infrastructure Income Fund | 3 March | 150,000,000 | 150.0 | Main market |
| Gabelli Value Plus+ Trust | 19 February | 100,101,001 | 100.1 | Main market |
| Grand Group Investment | 28 January | 7,100,000 | 27.1 | Aim |
The largest fund and the second largest IPO by money raised to date in 2015 is Woodford Patient Capital Trust, which raised £800m in April.
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.
Adviser view
Kevin Morgan, managing director of Hertfordshire-based Consilium Financial Planning, said: “London is perceived as being safe, with a strong legal system and a competent regulator.
“This also demonstrates the willingness to invest. There is an awful lot of cash trying to find a home and there are investors and instutitions looking for returns.”
