Gravis to unveil UK's first listed debt infrastructure fund

Gravis Capital Partners, which is set to create UK's first listed debt infrastructure fund, says it is likely to complete a successful IPO.

The group is due to close the books today on a IPO targeting £50m, with the infrastructure fund planning to invest in subordinated debt of projects under the private finance initiative, such as schools and hospitals. "We are very confident that we will comfortably exceed the minimum £35m pounds we said we would accept, by how much I don't know, but we will be closing successfully on Monday," Gravis managing partner Stephen Ellis told Reuters. Gravis launched an unlisted retail infrastructure fund in June 2009. The monthly-dealing vehicle, which carried a £25,000 minimum investment, of...