Baker Steel plans IPO for unlisted resources fund

Baker Steel Capital Management is to rename and list its Genus Capital natural resources fund in London next month.

The $850m asset manager is aiming to raise £70m, on top of the $61m already in Genus Capital, which it is renaming the Baker Steel Resources Trust. The trust will invest in pre-IPO mining stocks and specialist resources companies. Trevor Steel, lead manager of the Baker Steel fund, says the product is a stock-specific, bottom-up fund which "provides a great opportunity for investors who want to access quality resources companies at an early stage." Launched in unlisted format in July 2008 by Baker Steel, AWR Lloyd and Rock Capital Partners, the fund aims to realise between $116m an...