Seneca IM continues to back Merian Chrysalis after latest fundraising 'turnaround'

£95m raised early this month

Mike Sheen
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Richard Parfect of Seneca Investment Managers
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Richard Parfect of Seneca Investment Managers

Seneca Investment Managers once again added to its position in Merian Chrysalis as part of the trust's latest fundraising effort, the success of which indicates "one hell of a turnaround" in investor sentiment since its 2018 initial public offering (IPO), according to Seneca fund manager Richard Parfect.

Merian Chrysalis raised £95m for an equity placing on the London Stock Exchange earlier in October, almost doubling the fundraising target it set at the end of September and having already exceeded the £100m target it set in a separate 2019 placing. Merian Chrysalis exceeds expectations with £95m fundraise Now with assets of £550m, the success of the past two fundraising attempts is in contrast to the trust's failure to attract significant investor interest at IPO, which saw it raise half of the £200m it had initially targeted. "It has been one hell of a turnaround and difference f...

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