Albion appointed as manager of Spark funds

The funds' current manager, Spark Venture Management, says it will continue to work alongside Albion to help handle in-progress exit transactions.

Spark VCT's board says it appointed Albio as the existing manager is moving its fund management focus away from retail funds in favour of regional and institutional funds.

It felt Albion had experience of growing more mature businesses across a broad range of sectors. The boards of the Spark VCTs hope the new appointment will help secure a sustainable future for the company and deliver a steady annual yield.

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• UK / Ireland
• Venture