Result of Placing and Offer for Subscription
Bramdean raises £131m for new alternatives fund
Bramdean Asset Management LLP is pleased to announce that its new alternatives fund, Bramdean Alternatives Limited, has raised monies totalling £131 million pursuant to the Placing and Offer for Subscription.
It is expected that dealings in the shares will commence on the London Stock Exchange at 8.00 a.m. on 9 July 2007.
Commenting on the fund raising, Nicola Horlick, Chief Executive Officer of Bramdean Asset Management LLP, said:
“I am delighted with the success of the fund raising, which has very substantially exceeded the minimum expectation despite difficult market conditions. We have received tremendous support, both from institutional and private investors, and believe this will mark a period of sustained interest in private equity and hedge funds. I am very proud of all the hard work that has been put in at Bramdean to launch the fund.”
Bramdean Alternatives Limited is an innovative new fund of funds, offering globally diversified investment across private equity, hedge funds and specialty asset classes.
The fund has already committed to a number of private equity and specialty funds, including Terra Firma Capital Partners III L.P., Coller International Partners V L.P., Thomas H. Lee Equity Fund VI L.P. and SVG Capital Strategic Recovery Fund II L.P.
The fund is also available to investors via an Offshore Bond wrapper provided exclusively by AXA Isle of Man Limited.
Kevin Dean, Managing Director of AXA Isle of Man said: ” Interest in the new Bramdean fund has been extremely promising and a large number of our clients have indicated that they intend to invest at the earliest opportunity. We expect demand for this fund to grow steadily. The new Bramdean fund has provided AXA with a unique addition to its range of funds at a time when investors are looking for diversification within their portfolios.”
Media enquiries:
PR
Damien McCrystal 020 7603 7960 / 07816 770 758
Matthew Jervois, Mainland PR 020 3008 7400 / 07957 160615
Kelly Rawlinson, Mainland PR 020 3008 7400 / 07834 165226
Sponsor
Cenkos Securities Plc
Charlie Ricketts/Will Rogers 020 7397 8900
Photographs available on request.
Bramdean has prepared desktop research to accompany this press release which provides general, publicly-available market information about the alternatives investment industry. If you would like a copy, please contact Mainland PR.
Editor’s Notes
Bramdean Alternatives Limited is a Guernsey-based closed-ended investment company with limited liability, incorporated on 5 January 2007.
The fund has innovative features which include the following:
- Exposure to a broad range of global alternative investments within one fund
- Daily trading
- Access to quality underlying managers that have in the past delivered substantial and consistent returns
- A portfolio of commitments to closed funds ahead of Listing
- Qualified, highly experienced Board of independent Directors
- Portfolio diversification
- Low correlation between the portfolio’s assets and to traditional asset classes
Bramdean has appointed RMF Investment Management, a wholly-owned subsidiary of Man Group plc, to manage the part of the fund’s assets which are allocated to hedge funds.
The Directors of Bramdean Alternatives Limited, all of whom are non-executive and independent, are Brian Larcombe, Ceasar Anquillare, Peter Barton, Michael Buckley, and Nicholas Moss.
• Brian Larcombe (Chairman) (aged 53) is former CEO of 3i Group Plc, a world leader in venture capital and private equity, and where Brian has spent most of his professional career. He is also a former Chairman of the British Venture Capital Association and is an honorary Fellow of the London Business School. Brian is a non-executive director of F&C Asset Management plc and Smith & Nephew plc.
• Ceasar Anquillare (aged 50) is Chairman & CEO of Winchester Capital, a private investment bank, based in the USA and London, specialising in global private equity and merger & acquisition transactions. Previously, Ceasar served as an adviser for private equity and technology based investments at Dresdner Kleinwort Benson. Ceasar is Connecticut’s Honorary Ambassador to the UK and EU and has served as an adviser to the US Agency for International Development.
• Peter Barton (aged 70) retired from Robert Fleming & Co. in 2000 where he had been Chief Operating Officer, Investment Banking. Before joining Robert Fleming & Co., he was a Managing Director and Head of the European Financial Institutions Group at Lehman Brothers, which he joined in 1986 following twenty years’ practice as a corporate lawyer. He has recently retired from the Board of Alliance & Leicester plc, where he served as Deputy Chairman.
• Michael Buckley (aged 62) retired as Group Chief Executive of Allied Irish Banks plc, Ireland’s largest company, in June 2005. Before joining Allied Irish Banks, he was Managing Director of the NCB Group, an independent stock broking and corporate finance firm. Prior to his involvement in financial services, he was a senior civil servant in Ireland and in the EU.
• Nicholas Moss (aged 47) is a founding member of Virtus Trust Limited, a fiduciary, corporate services and investment consulting business. Nicholas is a former Managing Director within the Rothschild Trust Group in Guernsey and has spent much of his professional career working in the offshore financial services sector.
Bramdean Asset Management LLP
Bramdean was incorporated in October 2004. Its Chief Executive Officer is Nicola Horlick and its Chairman is Sir Derek Higgs.
Owned by the management & investment team and a number of outside investors, Bramdean is committed to delivering enhanced investment returns within a structure that offers significantly improved governance as well as a competitive structure of costs and charges.
Bramdean’s multi manager structure offers access to talented fund managers worldwide, enabling investors to benefit from their expertise in their asset classes while also controlling risk through Bramdean’s rigorous manager research and governance process.