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Sherborne turns to Electra Private Equity after divesting 3i stake

5 Mar 2014

New York turnaround investor Sherborne has acquired a stake in London-listed investment trust Electra Private Equity.

The firm owns a 13.7 per cent stake in Electra, following a statement disclosing a 10.24 per cent interest.

Sherborne had previously bought up share in UK private equity firm 3i, divesting them in November last year.

The firm, which is headed by turnaround specialist Edward Bramson, ousted management at F&C Asset Management back in 2011 after a similar buy-in plan, however it pursued a more passive ownership during its tenure as a backer of 3i.

Bramson co-founded New York-based Hillside Capital, one of the first specialist private equity firms in the US. In 1986, he founded Sherborne, which is involved in both private and publicly listed investments. In 2002, Bramson co-founded Hanover Investors in London, from which he withdrew in June 2006 to focus on Sherborne’s international activities.

Electra Private Equity’s shares are currently priced at £27.45at the time of publication, giving a market cap of close to £1bn. The firm recently bought Ogier Fiduciary Services from its parent business for £180m.

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