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Merian Chrysalis planning £100M fundraising

Guernsey-based Merian Chrysalis Investment Co. Ltd. is seeking to raise at least £100 million through a share placing of new ordinary shares in the company.

Merian Global Investors (UK) Ltd., Merian Chrysalis' investment adviser, is seeking additional capital from the placing to exploit several opportunities and complete the next phase of acquisitions for Merian Chrysalis' investment portfolio.

Merian Chrysalis plans to allocate about 50% of the placing's proceeds — depending on its overall size — to several existing portfolio holdings, some of which will be subject to certain regulatory approvals. The move will allow the portfolio to maintain its positions in core holdings, the company said.

Following the completion of the placing, the new shares are expected to be acquired from Merian Global Investors' open-ended U.K. small- and mid-cap equity funds, with the interests expected to be purchased at a modest discount to the latest valuation of the assets.