Berwin Leighton Paisner (BLP) and LG have taken roles on one of the first Alternative Investment Market listings of the year, as UK fund manager Schroders seeks to raise more than £100m via a float of its West End property trust.

The initial public offering (IPO) will see the West End of London Property Investment Company (WELPIC) – a newly formed Guernsey-incorporated trust – seek to raise funds to invest in the existing West End of London Property Unit Trust (WELPUT), which is managed by Schroders and Grafton Advisors.

WELPUT, an £873m portfolio established in 2001, provides institutional investors with exposure to the London office property market.

Schroders said it is seeking to increase WELPIC's market capitalisation to more than £250m in the coming 18-24 months, in the hope of gaining admission to the main market of the London Stock Exchange.

Benjamin Lee is leading a BLP team advising Schroders, alongside corporate tax partner Cathryn Vanderspar and corporate finance senior associate Richard Werner.

Oriel Securities, the underwriter on the listing, has instructed an LG team led by corporate partner John Reed.

Lee commented: "It is quite an innovative deal. It will give people access to one of the leading funds in the space and will open it up the company to a different investor pool."