After a successful £30m second raise from the SQN asset finance fund earlier in the year, the firm will stage a third raise targeting £180m.
SQN intended to make third release when it raised the last £30m, but the figure hadn’t been set. The amount targeted has grown to £180m following "the pipeline of opportunities" that had "continued to grow", said SQN in a release.
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Half the shares will be available to existing shareholders so that they may increase the size of their investment, said the company.
To date the fund has raised around £200m, with the intended release to bring it to £380m.
In March the UK lessor Summit Asset Management Ltd sold its leasing division to the UK-arm of asset and fund manager SQN Capital Management.
This transaction completed the merger of the two companies which began in 2007 with the establishment of SQN Capital Management, LLC as a joint venture.
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