Simmons & Simmons has scored its second instruction on the float of a closed-end fund, working on the first to be listed on the LSE. Brevan Howard hopes to raise $1bn (£510m) as part of a flotation of closed-end investment vehicle BH Macro. Simmons advised Brevan Howard, led by investment funds partner Steven Whittaker and tax partner Paul Hale, while Freshfields advised BH Macro. Brevan Howard appointed Citigroup, Goldman Sachs and JPMorgan Cazenove, with Linklaters advising the banks. Although other closed-end funds have floated, this is the LSE’s first. It follows the flotation of MW Tops on Euronext. On that deal Herbert Smith and Stibbe advised MW Tops, while Simmons was instructed by Marshall Wace, the originating hedge fund manager. Allen & Overy advised the underwriting banks.