Tellworth Investments will launch a UK equities investment trust to be managed by founders and ex-Schroders duo Paul Marriage and John Warren.
The Tellworth British Recovery & Growth Trust will look to raise £100m through an IPO and an intermediaries offer with the potential for an extra £500m to be committed to the vehicle, it said.
The trust will have a 12-month placing programme, with other intermediaries offers carried out over that period.
In a stockmarket statement on Wednesday (2 September), Tellworth, a boutique launched by BennBridge in 2017, said the trust would be managed by founders Marriage and Warren alongside Johnnie Smith, who joined the firm in June from CZ Capital, where he managed a suite of long/short UK equity strategies.
The fund will seek to generate long-term total returns over a rolling five-year period by investing principally in UK listed companies with a significant presence in the UK, Tellworth said.
The portfolio will be "relatively concentrated and represent the Tellworth investment team's highest conviction ideas across the market capitalisation spectrum within the UK equities sphere".
Marriage and Warren currently run the firm's flagship £294m LF Tellworth UK Smaller Companies fund. Since launch in November 2018, the fund has returned 3.4%, beating its Numis Smaller Companies plus AIM benchmark index's 0.9% gain.