Australian investment manager L1 Capital is close to listing its UK residential property fund on the London market.
Bankers at Panmure Gordon and RBC have been appointed to handle the float. The fund, which will trade as UK Residential Reit, owns more than 30 blocks of flats in cities such as Bristol, Sheffield and Leeds.
The former Close Brothers chief executive Richard Grainger is understood to have been lined up as chairman.
The firm is seeking to raise £150m from the float at a valuation of £200m, aiming to reach a market capitalisation of £500 million within a few years.
