First China-focused private equity trust listed in London eyes $300m IPO

Targets long-term total NAV return of 15%

A new investment trust, Welkin Private Equity China Limited (WCPE), which will invest in unquoted Chinese companies with long-term growth potential, is looking to raise $300m (£261.8m) in an IPO.

The trust, managed by Welkin Capital Management, claims to be the first investment company focused on Chinese private equity listed on the London Stock Exchange.  The trust will targeted an annualised NAV total return of at least 15% over the long-term. The prospectus is set to be published in the coming days, Welkin said. Foresight launches £200m sustainable forestry IPO "The Welkin team has deep local market expertise, a strong track-record, on-the-ground presence, and a good understanding of the Chinese business and policy environment," said Ivan Chu, chair of WCPE. "We are e...