Travers Smith LLP has advised Merian Chrysalis Investment Company Limited (the "Company"), which will be advised by Merian Global Investors (UK) Limited and invest in later-stage private companies, on its initial public offering and listing on the Main Market of the London Stock Exchange.
The Company raised £100 million through a placing, intermediaries offer and offer for subscription. The Company starts trading on the London Stock Exchange today.
Will Normand, a partner in the Listed Funds team, led the Travers Smith team and was assisted by associates Rachael Orchard and Luke Scott.
Will Normand commented: "We are delighted to have supported Merian Global Investors (UK) Limited on its first listed fund launch. Merian Chrysalis Investment Company Limited continues the firm's relationship with Merian Global Investors, a leading global investment manager, and we look forward to working with the Merian Global Investors team and the board of Merian Chrysalis Investment Company Limited in the future."
Richard Watts, portfolio manager, commented: “We are delighted to be launching the Merian Chrysalis Investment Company Limited, which will offer investors exposure to a portfolio of exciting, later-stage private growth companies, a market that investors, typically, have had limited opportunities to access. Despite challenging market conditions - following the global sell-off in October, and investors adopting a cautious outlook - we are pleased to have raised £100 million at launch. There is significant interest in the asset class and our strategy and we have identified a strong pipeline of high-growth private investment opportunities.
“We’re very grateful for Travers Smith’s support and guidance throughout this process, and look forward to our continued partnership.”