GCP announces new infrastructure debt listed vehicle

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GCP announces new infrastructure debt listed vehicle

Gravis Capital Partners has announced Project Finance Investments Limited, a new infrastructure debt listed vehicle.

The new vehicle has recently reported the admission of its ordinary shares to trading on the main market for listed securities of the London Stock Exchange and to listing on the Premium Listing segment of the Official List of the UK Listing Authority. It is expected that admission will become effective and that dealings will commence at 8.00 a.m. on 23 October 2015.

The fund, a registered closed-ended investment scheme limited by shares incorporated in Jersey, is proposing to raise target gross proceeds in excess of £100 million (US$151.8 million), through a placing and offer for subscription of in excess of 100 million Shares at a price of £1.00 per share with the potential for increase to up to 150 million shares subject to investor demand.

Gravis Capital Partners LLP will be the investment manager of the fund, which will seek to make investments in a portfolio of senior loans, subordinated loans, mezzanine loans, bridge loans and other debt instruments across multiple sectors. It may also make limited investments in equities and equity-related derivative instruments such as warrants.

GCP Infrastructure Investments Limited announced that it has an agreement in place regarding a right of first refusal over investment opportunities to be offered to the new listed vehicle Project Finance Investments Limited.

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