SQN Capital has raised £180m after it issued shares in its asset finance income fund at 100p per share.

A release from SQN Capital Management, run by Neil Roberts and Jeremiah Silkowski, said that the share issue was substantially oversubscribed.

The release said that the £180m would be invested “in accordance with the company’s investment policy in the existing pipeline of opportunities, together with new business.”

In March 2015 UK lessor Summit Asset Management sold its leasing division to the UK-arm of asset and fund manager SQN Capital Management.

The transaction completed the merger of the two companies which began in 2007 with the establishment of SQN Capital Management, as a joint venture.

In 2014, SQN raised £150m through its first share issuance, becoming the first publically-traded asset finance fund available on the stock market.