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Castle in LSE listing amid liquidity hunt
SWISS fund of hedge funds Castle Alternative Invest is launching a second share listing on the London Stock Exchange (LSE), in a bid to access the high levels of liquidity on the main UK stock market.
The fund, run by LGT Capital Partners, is currently trading at a 27 per cent discount to its £315m net asset value but hopes the 5 June listing will boost demand for its shares.
LGT Capital general manager Mark White said: “In Europe the LSE has become the principal source of liquidity and visibility for listed alternatives.”
LGT had planned to list Castle Alternative’s shares in London towards the end of last year but delayed the decision because market conditions were so poor.