D&W has advised a newly established subsidiary of F&C Private Equity Trust plc in a successful placing of zero dividend preference shares, raising gross proceeds of £30m, the maximum target set for the placing.

The zero dividend preference shares have a five-year term, with a redemption yield of 8.75 per cent. per annum, and will be listed on the London Stock Exchange’s Main Market.

F&C Private Equity Trust plc is a UK listed investment trust which aims to achieve long-term capital growth for its investors through private equity investment. The successful placing of the zero dividend preference shares has allowed the investment trust to raise substantial funds in a short time period, which will allow it to take advantage of opportunities for private equity investment.