Jo Welman, the former Barings fund manager, has seized the opportunity to raise money for his latest fund, Epic Reconstruction, by floating the company on London's alternative investment market (AIM).

The placement was arranged by Numis Securities with whom Welman has a long-standing relationship. Numis priced each share at 100p and issued 30 million shares giving the company a £30m (€42.8m) market capitalisation. The £30m will be the starting point for a fund expected to raise £200m.