Friends Ivory & Sime's AiM investment team is launching an investment trust which allows private inve...
Managed by the team which already manages the successful AiM Trust and two AiM VCTs, 3PC is an investment trust based on the model of a limited partnership which is usually only available to institutional venture capital investors.
The trust will provide primary capital to both public and private companies, seeking to provide substantial capital growth for investors. 3PC will also exhibit similar characteristics to a venture capital limited partnership in terms of its reward structure.
It is intended that proceeds from realised investments will be used to return 99.9% of a shareholder's initial investment, plus a total return of 7.5% a year compound by May 2007.
The management team is highly committed to the success of the new company and will share in 20% of the trust's growth after shareholders have received this targeted return. The remaining 80% of the growth will be shared amongst investors.
In the event that the targeted return has not been paid by May 2007, shareholders will have the right to liquidate 3PC, in which case the assets will be returned to shareholders.
Friends Ivory & Sime intends to raise initial funds of between £100 million and £150 million for this new investment trust through a placing sponsored by Cazenove & Co, an offer for subscription and zero charge investment plan and Isa wrappers.
Initial fund raising is due to close on 23 April 2001, or earlier on full subscription and investment in 3PC Investment Trust plc is subject to a £5000 minimum.
The closing date for the Zero Charge Investment Plan and Isa will be 18 April, or earlier on full subscription.
Customer enquiries: 0845 600 6166 or [email protected]
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