It’s been a busy day for the folks at Wilson Asset Management, who are set to raise a combined $250 million in the coming weeks.

WAM is expected to launch a new micro cap listed investment company within the next few weeks and is understood to be targeting around $150 million.

Street Talk reported earlier this year that the name “WAM Microcap Limited” had been registered with the corporate regulator. 

The fund will invest in companies with market capitalisations of less than $300 million, sources said.

In a break with recent tradition among LIC issuers, the slated $150 million fund will not include the issue of one for one options that effectively grant the issuer the opportunity to raise additional capital after a year.