Goldman Sachs Dynamic Opportunities, a closed-end investment subsidiary of Goldman Sachs Asset Management, has raised $507m (€401.7m) in the largest initial public offering to date by a fund of hedge funds and has exceeded original expectations by about 20%.

Shares in the company are due to start trading in dollars, euros and sterling on the London Stock Exchange on Thursday. The company will issue roughly 140 million shares at £1 apiece, 48 million shares at €1.46 and 91 million shares at $1.83 per share.