The TCA Fund Management Group is planning to float a new closed-ended fund that will feed into its master credit strategy.
TCA Global Credit will list on AIM in May, seeking to raise £15 million. Structured as a Guernsey-domiciled investment company, it will feed into the TCA Global Credit Master fund.
This master fund launched in April 2010 as a short duration, absolute return strategy focused on senior secured lending to small, mainly listed companies.
‘We are hopeful that our niche financing business will be as well received by investors on the public market as it has been received in private offerings,’ said Bob Press, chief executive of TCA.
‘While there is no guarantee of future success, the same drivers that have assisted TCA’s growth in the last four years continue to exist.’
The strategy has returned an annualised 18.8% since inception.