FI&S Private Equity becomes ISIS Capital

Friends Ivory & Sime Private Equity, the private equity arm of asset manager Friends Ivory & Sime, has changed its name in a bid to better reflect the group’s commitment to private equity, said Wol Kolade, managing director of the group.

The announcement is the latest step the group has taken to reorganise its business over the last few months. In November, it reshuffled and bolstered its private equity management team with a number of promotions and two new appointments. Liz Jones joined as an assistant director responsible for new investments, and Kevin Whittle came in as a portfolio director.

ISIS Capital invests in UK companies with profits in excess of £1m. The group typically invests up to £15m in equity and focuses on the business and financial services, media and communications and technology sectors.

Since 1995, the firm has managed a series of venture capital trusts known as the Baronsmead VCTs. The fourth such trust, launched in November, is expected to raise £30m.

Recent transactions that ISIS Capital has completed include the management buy-in/buyout of temporary staffing agency Staff-Line Recruitment, an investment in Conclusive Logic, a company making internet security devices, and a £6.2m commitment to Demica, the software group.