DLA Piper has advised Better Capital PCC Limited on its firm placing and open offer raising £185.6 million for further investments. Better Capital PCC Limited is a Guernsey-incorporated, registered closed-ended collective investment scheme with the investment objective of generating attractive total returns from investing in a portfolio of distressed businesses. The company has two protected cells, the 2009 Cell and the 2012 Cell which invest in separate funds. Shares in the 2009 Cell and 2012 Cell are separately listed on the Official List and separately traded on the main market of the London Stock Exchange. The fundraising of £185.6 million is through the issue of new shares in the 2012 Cell.

DLA Piper has advised Better Capital since 2009, on its initial public offering on AIM, its migration to the main market and secondary offering in 2010, and its conversion to a protected cell company and secondary offering in 2011/2012. Numis Securities Limited has acted as the sponsor, broker and global coordinator in each of these fundraisings.

The DLA Piper team was led by Jon Hayes and Martin Penn. Melanie James and Edward Meadowcroft made up the core team, with support on private funds from Gawain Hughes and Charlie Vermeylen.

Jon Hayes said: "We offer our congratulations to Better Capital on another successful fundraising. This clearly testifies to the strength of support for Better Capital's focus on turnaround investment opportunities and we wish them every success during the investment phase and beyond.”