Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

TwentyFour to raise £40m for popular debt trust

TwentyFour to raise £40m for popular debt trust

Popular debt trust TwentyFour Income is hoping to raise a further £40 million.

The closed-end fund launched in March and pulled in £160 million at its initial public offering (IPO), having been backed by the likes of PSigma Investment Management, which seeded it with £38 million.

With ambitions to grow its size, the TwentyFour Income fund, which invests in European asset backed securities, will seek to raise the funds via a secondary issue.

According to its first monthly update, TwentyFour's trust should be 'substantially invested' within three months, and its net asset value has grown by 5.4% since its IPO.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Wealth Manager on Twitter