Babson fund shelves London IPO

Market turbulence claimed the scalp of another IPO yesterday, as US fund manager Babson Capital said it was shelving the imminent £125m float of one of its funds. Babson said the Global Floating Rate Loan Fund, which hoped to use the money raised in London to invest in European and North American assets, said that investor interest had been good but “the uncertainty surrounding the European financial situation” had jeopardised its IPO plan for now. Liberum Capital was acting as sole bookrunner.