Private equity specialist Downing has announced it has raised £54.5m for the launch of its first micro-cap investment trust, above the £35m initial target.
As revealed by Investment Week at the end of March, the group is launching a replica of the firm's flagship open-ended UK Micro-Cap Growth fund, to be managed by the same manager Judith MacKenzie. The group has now confirmed the Downing Strategic Micro-Cap investment trust has raised £54.5m, higher than the £35m minimum fundraising it targeted. An application for listing on the London Stock Exchange is being made, with admission anticipated on 9 May 2017. MacKenzie said: "We are absolutely thrilled about the level of demand for the Downing Strategic Micro-Cap investment trust, wit...
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