Electra rebrands as Epiris as EPE split approaches

The GP is currently working a 12-month notice period as investment portfolio manager of EPE, which is due to end on 31 May 2017.

The termination of Epiris's contract with EPE was the result of a strategic review set in motion by the LP's activist investor, Edward Bramson, in January 2015.

Epiris managing partner Alex Fortescue said at the time the GP was proud of its "exceptional performance record", adding that the termination was both "a surprise and a disappointment". EPE also said it would explore "a range of options including retaining the services of [Epiris] as investment manager under a mutually acceptable agreement".

However, in October, the listed LP concluded the first phase of its review, announcing it is to move away from its status as a listed investment trust to a corporate structure. EPE said at the time that the move will enable it to make savings of £25m, including the "elimination of carried interest", placing serious doubts on the likelihood of a continuing relationship between the two parties.

The new Epiris brand is a combination of the initials from the GP's former name and Iris, the name given to Electra's daughter in Greek mythology.

Epiris recently featured in the unquote" In Profile series, which takes an in-depth look at practitioners across the European mid-market.

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• Topics
• GPs
• UK / Ireland
• United Kingdom
• Electra Partners LLP
• Electra Private Equity