The Buchanan investment companies team successfully assisted in completing three sector IPOs in autumn 2020. These included Round Hill Music Royalty Fund, which initially raised $282m at IPO and went on to raise another $46.1m in December (total $328.5m), combined the largest capital raise for a new London listed investment company in 2020.
Buchanan was also engaged by Schroders to advise on the Schroder British Opportunities Trust, which invests in both public and private companies that have been affected by the pandemic which have strong fundamentals, the fund raised £75m at IPO in November. Schroders subsequently requested Buchanan’s expertise for the Schroder BSC Social Impact Trust, which offers an opportunity for investors to access high-impact private market assets and also raised £75m at IPO in December.
This meant that together the team advised on a substantial portion of the successful IPOs of the 2020 calendar year in the sector.
The Autumn fundraising period was also very busy for secondary issues for Buchanan sector clients with Gore Street Energy Storage Fund raising £60m in an oversubscribed offer. Likewise, Bluefield Solar Income Fund in an another oversubscribed placing raised £45m from investors.