Woodford-backed P2P trust raises fresh £400m

P2P Global Investments has raised £400m from its latest C share issue after receiving backing from a number of high-profile shareholders.

In June the trust announced plans for its second C share of the year, and today's result suggests continued strong demand for alternatives sources of income. The managers of the trust said net proceeds of the fundraising will be invested within six to nine months. The C shares will convert once 90% of the proceeds are invested. Simon Champ, CEO of Eaglewood Europe, the trust's investment manager, said: "We received widespread support from both new and existing shareholders and the additional capital raised here will enable us to further benefit from economies of scale and the ever gro...