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

£95m raised early this month

Mike Sheen
clock • 2 min read

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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