News Column

Electra spared Bramson activism as investment and returns mount

May 30, 2014

MICHAEL BOW



ELECTRA Private Equity yesterday said it was still in the dark about why activist Ed Bramson had built a near 20 per cent stake in the firm, as it unveiled encouraging results.


Management at the listed group, which yesterday posted a five per cent rise in the value of its assets, said it had met with Bramson's Sherborne Investors - Electra's top shareholder - in recent weeks to start a dialogue.


"If there is an agenda we don't know about it," Electra chairman Roger Yates told City A.M. Bramson has previously taken stakes in companies like F&C and agitated for change. He took a chunk of private equity group 3i last year before selling out of the holding.


Electra yesterday reported a record six months for investments, after flagging 250m to put to work between September and March.


"Last year we expected the younger assets to drive growth and that is what has happened," Alex Cooper-Evans, investment partner, said. Shares rose 1.9 per cent.


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Source: City A.M. (UK)


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