P2P Gobal investments announced last week they were initiating a new funding round to raise £200 million in a C share offer. The company has now published the prospectus for the offer. This is following a successful 2014 as P2P Global became the first fund to target the P2P lending industry. P2P global invests across numerous P2P platforms in both the US and Europe targeting an annualized return of 5 to 15%. P2P global stated they intend not to concentrate more than 33% in any single platform but the limit may be increased over time.
The Company invests in consumer loans, SME loans, advances against corporate trade receivables and/or
purchases of corporate trade receivables (“Credit Assets”) which have been originated via Platforms. The
Company will typically seek to invest in Credit Assets with targeted net annualised returns of 5 to 15 per
cent. P2P stated the Investment Manager will engage in a thorough due diligence process to ensure that the platform has appropriate expertise and the necessary operational systems in place.
The expected timeline is as follows:
- Latest time and date for commitments under the Placing 5.00 pm on 26 January
- Publication of results of the Placing and the Intermediaries Offer 27 January
- Admission and dealings in C Shares commence 29 January