10th Nov 2015 10:32
LONDON (Alliance News) - Ranger Direct Lending Fund PLC on Tuesday said it plans to raise up to GBP135.0 million by issuing 'C' shares through a placing and intermediaries offer.
The company said it had deployed 76% of the GBP135.0 million raised in its initial public offering in May, and expects to fully invest its equity capital by early December.
"The company's funds have been invested in a disciplined manner in line with its targeted net returns to the fund of 12-13% and across a diversified portfolio of 10 platforms, including three platforms which have been onboarded since IPO.
Secured lending accounted for over 80% of the invested portfolio, across various categories including secured smaller business lending, real estate loans, equipment finance and platform collateralised debt, Ranger Direct Lending Fund said in a statement.
"The company continues to see a strong pipeline of opportunities in the secured direct lending sector to deploy funds in line with its returns target," Ranger Direct Lending Fund said.
Ordinary shares in Ranger Direct Lending Fund were flat at 1,060.00 pence on Tuesday morning.
By Samuel Agini; [email protected]; @samuelagini
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