Wragge Lawrence Graham & Co's (WLG) Investment Funds team has advised Jefferies International Limited (Jefferies) on the secondary issue of C Shares by VPC Specialty Lending Investments PLC (VPC Specialty Lending) which raised £183 million.

The secondary issue was by way of an institutional placing, offer for subscription and intermediaries offer. The C Shares were admitted to the premium listing segment of the Official List and to trading on the London Stock Exchange's main market for listed securities.

VPC Specialty Lending is an investment trust that invests in opportunities within the specialty lending market, primarily through online lending platforms. The assets of VPC Specialty Lending are managed by Victory Park Capital Advisors LLC.

Earlier in the year WLG acted for Jefferies on the initial public offering (IPO) of VPC Specialty Lending, raising £200 million.

Partner Nick Heather led the team advising Jefferies - sole broker, sponsor and bookrunner to the issue. Nick was assisted by corporate associate Emily Troubridge.

Nick said: "The IPO of VPC Specialty Lending earlier in the year was one of the largest recent IPOs in the listed funds sector and the successful follow-on issue of £183 million brings the amount raised by this fund to nearly £400 million. It demonstrates the continuing demand for alternative asset classes that can produce an attractive total return."

WLG's Investment Funds team is a leading practice with a particularly strong reputation for closed ended listed funds, advising issuers, investment management houses and the investment banks and brokers that advise them.

In 2015 the Investment Funds team at WLG has acted on over half of the IPOs and significant secondary issues for listed investment companies including acting for Winterflood on the largest deal of the year, the £800 million IPO of Woodford Patient Capital.