BlueCrest AllBlue Fund Raises GBP348.6M Via C Share Issue

21st Jun 2010 07:32

LONDON (Dow Jones)--BlueCrest AllBlue Fund Ltd. (BABS.LN), a trust dedicated to investing in AllBlue Ltd., a fund of hedge funds, said Monday applications have been received pursuant to the issue for C shares with an aggregate value of GBP348.6 million. MAIN FACTS: -Applications comprise GBP309.5 million in respect of Sterling C shares, EUR8.1 million in respect of Euro C shares and U.S.$47.8 million in respect of U.S.$ C shares. -BlueCrest remains confident that market conditions are propitious for the Company's future success. -Under the structure of the issue, all valid applications for C shares received under the placing and offer for subscription will be accepted in full; Accordingly, 309.54 million Sterling C shares, 8.12 million Euro C shares and 47.8 million U.S.$ C shares will be issued. -Company will have aggregate net assets of GBP808.7 million. -Company anticipates that at least 95% of the aggregate net proceeds of the issue will be invested, or committed to be invested, by 1 July 2010 in AllBlue in accordance with the Company's investment policy. -RBS Hoare Govett Ltd. and Dexion Capital PLC acted as joint bookrunners to the issue; RBS Hoare Govett Ltd. also acted as sole sponsor and corporate broker to the issue. -Shares closed Friday at 165.5 pence valuing the company at GBP452.02 million. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; [email protected] (END) Dow Jones Newswires June 21, 2010 02:32 ET (06:32 GMT)