Shango or Schneidler Initials for the serif. The Q looks like done by hand.

I think the Q is not a font. The serif is unusual in that the U is not contrasted. Golden Cockerel Initials is like this, but the C and E don't match. I seem to recall that some Gill serifs may have had this sort of U, but I need to look more.

- Mike Yanega

Shango has a number of alternate glyphs, but I didn't see a matching U. I was going to suggest Gill Facia, which has an Alt U that has no stem, but the two sides are not the same weight, and the N doesn't have a full serif. Maybe Renko is right, but the U was fabricated by mirroring the left side of the U.

- Mike Yanega

Thanks everyone. Much obliged.

> (…) but the U was fabricated by mirroring the left side of the U.

Yeah, I was wondering about this. Why mirror the U?

For more options in this specific style check these Trajan Alternatives.