Press releases 2009
Two new funds for Specialist Fund Market
The London Stock Exchange today welcomed two new funds to its Specialist Fund Market. NB Private Equity Partners, which has an existing public market quotation in Europe, has sought admission to the SFM in order to benefit from the enhanced liquidity and improved profile associated with the London markets, while Altus Resource Capital, a new fund launched by Altus to capitalise on investment opportunities in junior resource companies, has raised £26 million.
Tracey Pierce, Head of Equity Primary Markets at London Stock Exchange Group, said:
“We are delighted to welcome two new funds to the Specialist Fund Market today. Altus Resource Capital demonstrates that despite the wider economic climate, London’s investors continue to be responsive to new investment opportunities. NB Private Equity Partners’ decision to join highlights some of the London markets’ other key strengths: the enhanced liquidity and increased investor profile that they offer to issuers on an ongoing basis.”
Marc Gordon, partner at Nimrod Capital LLP, placing agents for Altus Resource Capital (“ARC”), commented:
“We are very pleased to launch Altus Resource Capital (ARC) on the Specialist Fund Market today. This is our second successful fundraising within 12 months on the London market. The Specialist Fund Market has provided the flexibility to bring the new fund to the attention of leading asset managers and to attract interest even in these difficult times.”
Talmai Morgan, Chairman of NBPE, commented:
“The successful dual-admission on the SFM today marks a significant milestone for NBPE. The increased profile of the London Stock Exchange should widen the fund’s investor base, increase broker coverage and offer enhanced share liquidity. These factors should provide long-term benefits to existing shareholders and potential investors in the fund.”
Since the start of 2008, a number of specialist funds have taken advantage of new opportunities to access London-based investors through the London Stock Exchange’s Main Market and Specialist Fund Market, including: Boussard and Gavaudan Holdings, BH Global, Castle Alternative Invest, FRM Diversified Alpha, Marwyn Value, and MW Tops. They benefit from the deepest liquidity available to publicly quoted alternative investment vehicles, reinforced by:
· the London market making model, which ensures the availability of prices at all times
· access to London’s institutional investors and private wealth managers, who may prefer, or have mandates restricted to London Stock Exchange traded securities
· a choice of markets depending on the size, investor audience and structure of the fund
· London’s network of knowledge, expertise and support services focused on hedge funds and private equity.
Tracey Pierce, Head of Equity Primary Markets at London Stock Exchange Group welcomes NB Private Equity Partners to the SFM, with the presentation of a plaque to Chairman Talmai Morgan.
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Notes for editors:
About Specialist Fund Market
The Specialist Fund Market is the first public capital market specifically designed to offer access to permanent capital for specialist investment vehicles targeting institutional, professional and highly knowledgeable investors. It is an EU Regulated Market, with admission standards that offer sufficient flexibility for single strategy hedge funds, private equity funds and other alternative strategies and structures. Specialist Fund Market issuers will be subject to the Prospectus Directive, Transparency Directive, Market Abuse Directive and other EU requirements. The market is open to both UK and international issuers.
About London Stock Exchange Group:
London Stock Exchange Group is Europe's leading diversified exchange business. It operates Europe's largest and most liquid equity market, holds the number one position in trading ETFs and securitised derivatives, and through its interest in MTS, is the leading platform for the trading of fixed income products.
The London Stock Exchange itself is the world's most international exchange with nearly 700 overseas companies from over 70 countries on its markets. It has consolidated this position in the last three calendar years, having attracted 218 international companies which raised over £32 billion between them. These figures include international companies on AIM, the London Stock Exchange's growth market, which has grown to become the world's most successful market for small and medium sized enterprises with over 1500 companies at the end of 2008.
Following its merger with Borsa Italiana in 2007, London Stock Exchange Group also now offers post-trade services such as netting, clearing and settlement on an efficient and competitive basis, and a comprehensive range of European bond trading services through MTS.