Electra in £56m secondaries deal

The GP bought the portfolio at a discount to net asset value and expects to benefit from a strong cash flow over the coming years, it said in a statement.

Electra intends to invest the generated cash in a further £21m commitment to the funds. It is also planning to purchase stakes in a sixth fund for £9m at the end of this month, bringing its total upfront cash investment to £65m.

The investor told unquote" that it is currently able to capitalise on many opportunities outside its buyout activities due to its flexible investment mandate and banks looking to deleverage their books selling assets at discounted rates.

The investment follows Electra's £160m buyout of information services provider UBM Data Services last week.

People
Alex Fortescue, Chris Hanna and Tom Stenhouse worked on the deal for Electra. 

Advisers
Equity - Clifford Chance, Nigel Hatfield, Jagdip Gujral (Legal). 

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• Topics
• UK / Ireland
• Secondaries
• Electra Partners LLP
• United Kingdom