Private Equity News & Analysis

Bramdean retail FoF raises £131m(2)

Bramdean Asset Management, the fund manager run by City of London “superwoman” Nicola Horlick, has raised £131 million for a London-listed fund-of-funds, which aims to give retail investors access to the superior returns of alternative investments.

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UK fund manager Bramdean Asset Management has raised £131 million (€194 million; $264 million) for a London-listed fund-of funds, which will be invested in a range of alternative asset managers worldwide.

Shares in the Bramdean Alternative Investments vehicle, which will be invested in private equity, real estate and hedge funds along with other “specialty asset classes”, will begin trading on the London Stock Exchange on Monday. It is designed to give retail investors access to the market-beating returns on offer from alternative investments.

Bramdean’s Nicola Horlick

Chief executive Nicola Horlick said the fundraising had exceeded expectations despite difficult market conditions. “We have received tremendous support, both from institutional and private investors, and believe this will mark a period of sustained interest in private equity and hedge funds,” she said.

The fund has already made commitments to a number of funds in and around the private equity asset class, including the latest offerings from Terra Firma and Thomas H Lee, Coller Capital’s latest secondaries fund, and SVG Capital’s second Strategic Recovery Fund, which aims to use private equity-style value creation techniques in the public markets.

In addition to the listed stock, retail investors can also access the fund through an off-shore “bond wrapper”, which is being provided by AXA’s off-shore division in the Isle of Man.

Horlick is a well-known figure in the UK – she was given the tag “superwoman” by the press for juggling a high-flying City career with the demands of bringing up a large family, an image strengthened when she fought off an armed robber attempting to steal her diamond ring in 2005. Horlick, who made her name as chief executive of Societe Generale’s asset management arm, started Bramdean in 2004.

Horlick will be the keynote speaker at PEI Media’s forthcoming “Private Equity COOs & CFOs Forum”, which be held on 13-14 September in London. Click here for more details.