A new listed ILS fund, DCG Iris, has raised £40.1mn in its initial public offering managed by Dexion Capital.
This was less than half the £100mn-£150mn that was targeted. However, the fund's chairman, Talmai Morgan, said the company hoped to grow DCG Iris through future share issuances over the coming year.
"We have seen a positive response to the investment proposition and the feedback has indicated a confidence in the company's strengths," he said.
Shares in the closed-ended feeder fund...
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