
Marwyn to launch recovery fund on SFM
Fund
Investment and advisory group Marwyn has launched a UK-based recovery fund on the Specialist Fund Market of the London Stock Exchange. The Marwyn Alternative Capital Fund, which listed on 20 July, seeks to raise up to £500m in a number of tranches over the lifetime of the fund. The new vehicle, which will have a three-year investment term, has a minimum subscription of £500,000, along with 2% management fees and 20% carry. Travers Smith provided the fund with legal advice.
Investors
The new fund will target various investor profiles including institutional investors such as corporate and public pension funds, banks and insurance companies.
Investments
The Marwyn Alternative Capital Fund will provide convertible debt and structured equity to otherwise sound companies that are experiencing short-term liquidity or refinancing problems. The focus will be on European small- to mid-cap public companies with an enterprise value of up to £1bn. Marwyn will work with the Royal Bank of Scotland to provide financing as part of the bank's wider initiative to boost lending to the sector. Over the course of the fund's life, Marwyn expects to make 10 investments.
People
James Corsellis and Mark Watts will manage the fund from Marwyn's London office. The fund will be chaired by Sir Nigel Rudd. Jonathan Chenevix-Trench, former chairman and CEO of Morgan Stanley International, will also be on the board.
Fund: Marwyn Alternative Capital Fund
Target: £500m
Launched: July 2009
Focus: Recovery, Europe
Contact: James Corsellis, Mark Watts
Address: Marwyn Investment Management, 11 Buckingham Street, London WC2N 6DF, United Kingdom
Tel: +44 20 7004 2700
Fax: +44 20 7004 2701
Advisers: Travers Smith (Legal).
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater