TCA Fund Management Group is planning to float the TCA Global Credit Fund through an AIM IPO as a new London listed, closed-end investment company.

The IPO will be structured as a feeder fund and aims to raise USD25m, marketed at both institutional and retail investors.
 
The fund, which is a short duration, absolute return fund specialising in short term senior secured lending to SMEs, is targeting a six to eight per cent annual dividend payment to shareholders on a quarterly basis (two per cent per quarter).
 
The Master Fund has a solid four year track record, exceeding targets in each year.
 
TCA aims to reduce risk via good portfolio spread. Position sizes are small (one to two per cent of portfolio) with an emphasis on geographic and sector diversification.