Turnaround vehicle is new move for

Sir Gerry Robinson is to set up and become the controlling shareholder of Raphoe Management, a turnaround vehicle investing in underperforming companies. Europa Partners, the investment bank, will be a founder shareholder and has been appointed to advise on acquisitions and arrange funding. Sir Gerry, most recently chairman of Allied Domecq, insists that although his new company is to identify corporate acquisitions, there will be no change in shareholder control of those acquisitions. He aims to allow shareholders, rather than private equity firms, to benefit from the turnaround.

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