Neil Woodford and Sanjeev Shah, two of the most prominent fund managers in the UK, have backed a fund that invests in commercial litigation cases, helping it to become the second-largest initial public offering on London's junior market this year.

Burford Capital has raised £80m (€87m) and is expected to start trading on Wednesday next week. It is set to be the second-largest listing on London's Alternative Investment Market this year, after property guru Nick Leslau raised £200m for his Max Property fund in May.