British private equity investor and Better Capital founder John Moulton has bought a significant minority stake in Seneca Investment Managers, which is a new fund management firm within the Seneca Partners group.
Seneca said that Moulton’s investment is “a considerable coup for the newly formed Seneca Investment Managers — and confirms its potential.”
In January this year Seneca bought Miton Group’s fund division Miton Capital Partners, which currently manages CF Miton Distribution Fund; CF Miton Diversified Growth Fund; and the Midas Income & Growth Trust.
Moulton said, “Seneca Investment Managers is a firm with a huge amount of upside potential. Under Stuart Eaton’s leadership, I have no doubt that an already successful fund management team will go from strength to strength.
“We have a lot planned for the new company and are backing it to become a major force within UK financial services.”
Last year Better Capital raised £185.6m for its listed 2012 Cell vehicle through a share issuance on the London Stock Exchange.
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