Press releases | Funds | 23 Dec 2015

£100 million IPO for Honeycomb Investment Trust Plc

Overview

Travers Smith LLP has advised longstanding client Liberum Capital Limited as placing agent and sole bookrunner on the £100 million IPO of Honeycomb Investment Trust plc.

Honeycomb, a new UK investment trust, has raised £100 million of capital pursuant to an institutional placing of ordinary shares, and has appointed Pollen Street Capital as its investment manager. The net proceeds of the fundraising will be used by Honeycomb to acquire interests in consumer and small business loans in specialist lending markets. Honeycomb is admitted to trading on the Specialist Fund Market of the London Stock Exchange.

The Travers Smith team was led by Investment Funds partner Will Normand and included Investment Funds associate Stuart MacKenzie.

Honeycomb was advised by Slaughter and May.