Electra Partners LLP ("Electra Partners") announces the appointment of Alex Fortescue as Chief Investment Partner with effect from 1 April 2011.
Alex will join the firm's investment committees and will have responsibility for strengthening the firm's deal origination and investment processes.
Alex has significant experience in private equity having previously worked at Apax Partners for ten years, most recently as Global Head of their Retail and Consumer Group. His investments included New Look, Focus/Wickes, Somerfield and Plantasjen. Prior to joining Apax, Alex was at OC&C Strategy for nine years.
Alex will be working alongside Hugh Mumford, David Symondson and Tim Syder, the firm's Managing Partner, and Deputy Managing Partners. It follows Electra Private Equity's announcement of a successful £100 million fund-raising, in December 2010, which allied to the firm's existing resources, gives Electra Partners over £400 million of deal capacity in the mid-size sector. In March 2011, Electra Partners announced its latest investment, the £43 million acquisition of Sentinel Performance Solutions a British-based heating and hot water treatment specialist.
Hugh Mumford, Managing Partner of Electra Partners said:
"Electra Partners is moving forward with purpose and momentum and Alex 's arrival will further enhance our investment capabilities. We place considerable focus on building the strength of our team and the creation of this role is part of Electra Partners' ongoing development and commitment to being an active player in the mid-market over the coming years."
Alex Fortescue said:
"I am delighted to be joining Electra Partners. The team is well respected in the industry; they have a strong portfolio and are strategically well placed to take advantage of investment opportunities. I look forward to contributing to their on-going success."
For further information:
Nick Miles, M: Communications 0207 920 2330
Notes to editors:
Electra Partners LLP
Electra Partners is an independent private equity fund manager with over 25 years experience in the mid-market buyout sector. In the last 15 years the firm has invested in excess of £3 billion and as at 30 September 2010 had funds under management of over £800 million on behalf of Electra Private Equity PLC and other clients.
The firm's flexible investment approach allows it to invest across a broad range of sectors and financial instruments including equity, senior equity, convertibles and mezzanine debt. Concentrating principally on Western Europe and with the majority of investments expected to be made in the United Kingdom, Electra Partners seeks to invest in the region of £20 million to £75 million per transaction.