Resolution, Clive Cowdery's reinvented investment vehicle, is expecting a flurry of last-minute interest in its landmark flotation that could mean it raises as much as £600 million ahead of next week's listing.

Standard Life, Legal & General, M&G and Insight Investments are all expected to have placed orders for shares in Resolution, one of the City's only big-ticket flotations this year.

Royal London Asset Management is also thought likely to have signed up for the float.

The institutions were among the big backers of Mr Cowdery's original Resolution, which generated tens of millions in profits for its investors buying and merging closed-life "zombie" funds.

Mr Cowdery, a former insurance salesman, who set up Resolution with just £500,000 of his own money, sold the business late last year for £5 billion in a hotly contested auction.

It was eventually won by Pearl Assurance, a rival controlled by Hugh Osmond, the serial entrepreneur.

Institutions appear to have backed Mr Cowdery in the light of his reputation, despite initial questions being raised about the dual structure of the Resolution companies, with one headquartered in Guernsey for tax-efficient reasons.

Books will remain open for orders until the end of tomorrow. The shares, marketed at £1 each, will then be priced to start trading on Wednesday.

John Tiner, the former chief executive of the Financial Services Authority, the City regulator, will be chief executive of the unlisted part of the group, but will be seen alongside Mr Cowdery as the de facto head of the business.

Resolution first unveiled its float plans a fortnight ago, saying that it aimed to raise between £500 million and £1 billlion to use as a launch pad to make aquisitions in the life assurance and asset management sectors.

It will target public and private companies in the UK and continental Europe, including Germany and the Netherlands. Mr Cowdery has said Resolution will look for the natural long-term owners of companies.

Resolution has said that it will adopt an open-minded approach to the structure of the acquisitions it makes. It is likely to mimic the form of its unsuccessful tilt at Bradford & Bingley, the part-nationalised mortgage lender and Mr Cowdery will shun hostile approaches in favour of agreed deals backed by current company boards.

Initial funds raised will help Resolution to acquire stakes in companies. Management will also invest their own money in acquisitions. Resolution's investors will be asked to sponsor additional capital-raising and financial restructurings as necessary for the target companies.

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