We note this morning's announcement by Electra Private Equity PLC ("Electra").

Our industry-leading investment performance has led to excellent returns, materially in excess of private equity and other indices, for Electra and its shareholders over the long term. We are surprised and disappointed to have received notice of termination of the management contract with Electra. 

We are proud of our investment performance record, which is built on our successful approach of buying well and then actively managing portfolio companies to drive growth and strategic repositioning.

Electra's portfolio is well-placed for further strong performance. Our significant pipeline of new investments includes a number of exciting opportunities at an advanced stage. 

We have established relationships with a number of investors and have received numerous expressions of interest from others. We will work with these investors, and with Electra, to ensure that we convert our pipeline into profitable new investments. 
Over the next twelve months we will continue to seek to drive exceptional returns for Electra shareholders.

Alex Fortescue, Managing Partner of Epiris, said “We are proud of our exceptional performance record. The termination of the contract is a surprise and a disappointment. However we expect Epiris to continue to thrive with access to significant capital resources.”

For further information please contact:

Andrew Honnor and Matthieu Roussellier, Greenbrook Communications    +44 (0)20 7952 2000
Andrew Kenny and Nicholas Board, Epiris
+44 (0)20 7306 3932

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