Today, a new direct lending fund from Ranger Capital will be listed on the London Stock Exchange. This will be the fourth fund of its kind to be listed on the London Stock Exchange. The offering for the Ranger Direct Lending Fund was oversubscribed at £10 per share with a total market capitalization of £135 million and will be listed with the ticker RDL. This isn’t Ranger Capital’s first venture into the lending space. Back in September of 2013, Lend Academy featured an article about the Ranger Specialty Income Fund, their private fund that invests in Prosper and Lending Club notes.
I reached out to Bill Kassul, who is Partner at the Ranger Specialty Income Fund to learn more about the new fund offering. What is most interesting is that Ranger Capital is a US based firm, but decided to list this fund on the London Stock Exchange. Bill mentioned that there were three reasons for this. [Read more…]