Osmond's Horizon Acquisition makes £418m LSE debut
Hugh Osmond, the man behind such ventures as Pizza Express and Punch Taverns, launched his investment vehicle on the London Stock Exchange yesterday, managing to raise £418m to invest in distressed companies.
It was reported previously that Osmond was looking to secure £500m from investors to target large, cash generative companies that are loaded with too much debt.
Osmond, along with Michael Fairey, the former deputy chief executive of Lloyds, will look to invest in consumer-facing businesses that have an enterprise value of between £1-3bn.
Shares in Horizon Acquisition settled at around 987p after floating at 1000p.
Seven investors have committed £25m, and will draw a £5m annual fee. Credit Suisse and Numis advised Horizon.
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