Schroders raises another £75m from second trust IPO in a month
Schroder BSC Social Impact is the third investment trust from the funds giant tapping into UK private markets
The Schroder BSC Social Impact Trust has matched the amount raised for the British Opportunities Trust at IPO, bringing in £75m.
Schroders is the AIFM of the investment trust while Big Society Capital will be the investment manager targeting social impact investments that address issues such as homelessness, supporting people with learning disabilities and domestic abuse survivors, and improving access to services for physical and mental health.
Part of the net proceeds of the IPO, which was first announced in November, will be used to acquire seven assets from Big Society Capital.
Schroders trust scorched as Woodford-backed nicotine inhaler goes up in smoke
Kind Consumer had been one of the Schroder UK Public Private investment trust’s top-20 holdings
The Schroder UK Public Private trust has been burned by another of Neil Woodford’s unquoted holdings, Kind Consumer, which collapsed into administration last week.
Sky News reported last week that the nicotine inhaler maker, which manufactured products under the Voke brand, had appointed administrators from Smith & Williamson after failing to secure fresh funding to keep the business afloat.
The collapse is set to trigger tens of millions of pounds of losses for investors, including former Tesco boss Terry Leahy and venture capitalist Jon Moulton. Former star manager Woodford was also among Kind Consumer’s prominent backers, ploughing money into the e-cigarette alternative via his Patient Capital trust.
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