Electra hires Phoenix's Gray

Ellie Pullen
24 February 2014

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Electra Partners has hired Nicola Gray, formerly an investment manager at Phoenix Equity Partners, as investment manager.

In her new role, Gray will work alongside Electra's chief investment partner Alex Fortescue. She will take part in the investment of the firm's £450m dry powder.

Gray was at Phoenix from 2010. During her time at the firm, she worked on the £25m secondary buyout of London-based exhibition company CloserStill from NVM Private Equity in May 2012 and the £33m secondary buyout of Key Retirement Solutions, a Preston-based provider of post-retirement financial products, in August last year.

Prior to joining Phoenix, Gray worked in the strategy group at PricewaterhouseCoopers. Her role there included advising private equity and corporate clients on commercial due diligence and corporate strategy projects.

The appointment follows swiftly on the heels of Electra's hire of Bill Priestley, formerly managing director of LGV Capital, as partner in January. The firm also appointed Owen Wilson, formerly of Palamon Capital Partners, as investment director in September last year.

Electra has executed a couple of significant deals since the start of the year. In January, the firm acquired a majority stake in UK shoe manufacturer Hotter Shoes from Gresham Private Equity for £85m in equity. The deal was believed to be worth a total of around £200m.

The firm then took part in the £180m management buyout of Ogier Fudiciary Services from its parent company Ogier Group earlier this month. Electra invested £83m in equity as part of the deal.