Debt strategies company to float

AcenciA Debt Strategies, a company specialising in debt-oriented hedge funds, said it is to float on the Irish Stock Exchange, raising up to €88m.

AcenciA invests primarily in American dollar-denominated assets, while its shares will be in sterling. The firm aims to achieve annual returns of three-month LIBOR, plus 5% over a rolling three-year period, it said in a statement yesterday.

AcenciA Debt Strategies will also be quoted on the London Stock Exchange.