The Nelson Lloyd's Trust, sponsored by Lazard Brothers, has set a target to raise pounds 60m of capital and will back 34 Lloyd's syndicates. Octavian, which owns a Lloyd's member's agent, will advise Nelson and Henderson Touche Remnant will manage its investment portfolio. The offer opens on 12 November.
A second scheme sponsored by Noble & Company has created two linked units, Premium Trust and Premium Underwriting, to raise a maximum of pounds 33m of capital and will back 26 syndicates. Its offer opens on 15 November.
On Wednesday three investment vehicles were launched, attracting more than pounds 400m in corporate capital for Lloyd's.
Towry Law, one of Britain's largest chains of independent financial advisers, is to go public on 11 November, placing 32 per cent of its shares on the London Stock Exchange at a price of 190p per share, which values the company at pounds 29m.
The firm gives advice on personal finance, insurance and pensions and is the first of its kind in the UK to list its shares. It hopes the move will facilitate acquisitions.Reuse content