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.
Your Business: Cover Star Club

Profile: a Williams de Broe vet on striking out from Investec

Profile: a Williams de Broe vet on striking out from Investec

Laurence Boyle and his team became ‘somewhat of an oddity’ within Investec after joining via its acquisition of Williams de Broë

Wealth Manager on Twitter