Bramdean Asset Management's new alternatives fund has raised £131m in the lead up to its London Stock Exchange launch.
Share dealings in Bramdean Alternatives Limited are expected to commence on the exchange at 8am on 9 July.
The fund offers globally diversified investment across private equity, hedge funds and specialty asset classes.
It is already committed to a number of funds, including Terra Firma Capital Partners, Coller International Partners, Thomas H. Lee Equity Fund and SVG Capital Strategic Recovery Fund.
The fund is also available to investors via an offshore bond wrapper provided by AXA Isle of Man.
“I am delighted with the success of the fund raising, which has very substantially exceeded the minimum expectation despite difficult market conditions,” Bramdean Asset Management CEO Nicola Horlick says.
“We have received tremendous support, both from institutional and private investors, and believe this will mark a period of sustained interest in private equity and hedge funds.”
AXA Isle of Man managing director Kevin Dean says he expects the demand to grow steadily.
“The new Bramdean fund has provided AXA with a unique addition to its range of funds at a time when investors are looking for diversification within their portfolios,” he says.
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