We are an independent private equity fund manager with more than 25 years’ experience. During this time we have invested in excess of £4.7 billion in more than 200 deals. As at 30 September 2016 we had funds under management of £2.2 billion including capital available for new investment of £450 million.
Our major client is Electra Private Equity PLC, an investment trust listed on the London Stock Exchange.
Our staff are based in one office in London meaning reporting lines are short and we are able to make decisions quickly. Our senior management team has on average 22 years' experience in private equity. The investment team has an average of 18 years' experience in private equity and is supported by a team of specialists in compliance, finance, investor relations and marketing.
Our investment strategy and structure is different from that of almost every other private equity fund. This has two key implications:
Epiris is able to invest across the full range of private equity opportunities: control and minority, equity and debt, direct and indirect. This means that it can tailor its investment strategy to suit changing market conditions and invest where many others cannot.
More specifically, Epiris’ strategy is to focus on three areas of private equity investment:
1. Buyouts and Co-investments: direct investment in high-quality, well-managed businesses that have the potential for profits growth, through organic growth, operational improvement or acquisition. As lead investor, Epiris typically targets investments of £40 million to £150 million in UK-centric companies with an enterprise value of up to £300 million. Epiris also co-invests £30 million to £100 million in minority positions in UK or international companies alongside founders, other private equity firms, corporates or the public markets.
2. Secondaries: secondary purchases of existing investors’ positions in either individual or portfolios of private equity funds, as well as acquisitions of portfolios of businesses, known as “secondary directs”.
3. Debt: loans to UK or international borrowers acquired in either the primary or the secondary market as either individual or portfolios of assets. The Debt portfolio comprises: performing credits, held either directly or through a structured finance vehicle such as a collateralised loan obligation (“CLO”), where Epiris has been able to secure attractive risk-adjusted returns and where a cash yield supports Electra’s distribution policy and liquidity needs; and stretched credits, which refers to debt in good businesses with bad balance sheets where Epiris can take a role in the restructuring of the capital structure.
Epiris applies the disciplines of buyout investing to its appraisal and management of investments in all three of these groups.
Epiris is able to provide stable long-term capital. It doesn’t face expiring investment periods or exit pressure driven by fund-raising cycles. This means that it can fully support investee companies with a long-term strategy and access to capital, and exit when returns are maximised for shareholders.