Press releases | Funds, Tax | 01 Aug 2016

Travers Smith advises Ranger Direct Lending Fund plc on £30m ZDP share issue through Ranger Direct Lending ZDP plc

Overview

Travers Smith LLP has advised investment trust Ranger Direct Lending Fund plc (the "Fund"), which launched in May last year, in connection with its placing of 30 million ZDP shares through its subsidiary, Ranger Direct Lending ZDP plc.

The Fund will invest the proceeds of the placing in a diversified portfolio of debt obligations that have been originated or issued by direct lending platforms.

Admission to the standard segment of the Official List occurred at 8.00 a.m. this morning.

The Travers Smith team was led by investment funds partner, Will Normand and also included investment funds associate, Leigh Stockey, tax partner, Elena Rowlands and tax associate, Ed Humphreys

Will Normand, investment funds partner commented:

"We are delighted to have advised Ranger Direct Lending Fund plc on its ZDP placing.  The launch of a ZDP product in an emerging asset class and in such difficult market conditions represents a huge success for all those involved in the fundraising process."

Gowling WLG advised Liberum Capital Limited in its capacity as broker and sole bookrunner.