View more on these topics

Flight’s new firm debuts with recovery fund

IFA champion and former Conservative Shadow Treasury chief secretary Howard Flight has set up a new investment company.

Launched this week, Flight & Partners has been founded by Flight alongside investment banker Mark Warde-Norbury and former Ernst & Young Entrepreneurial Services marketing director Permjot Valia. Flight will chair the firm.

Its first fund, the Flight & Partners recovery fund, aims to offer investors an opportunity to benefit from current difficult market conditions. It will provide secured loan finance with attaching equity to companies with turn-around potential.

The fund is a closed-end Guernsey company with a seven-year life and will be capped at £30m. Minimum investment is £50,000.

Cornerstone investors have indicated that they will be investing £10m. R Capital has been appointed as adviser to the fund.

Flight says: “Flight & Partners is a new investment management business based on collaborating with focused boutiques which have established track records in specialist, niche investment territories. The Flight & Partners recovery fund offers sophisticated investors an opportunity to benefit from the more difficult credit market conditions now prevailing.”

Recommended

Another one bites the dust

As rock band Queen sung in 1980 with the release of “Another One Bites the Dust”, the song can now – 28 years later – aptly apply to the UK mortgage market.

MONEY MARKETING MARKETS: Banking on gloom?

Banks have been the watchword of the week with the Bank of England’s dour warning on the outlook for the economy and Bradford and Bingley’s worse than expected writedowns rubbing out the FTSE 100’s gains earlier in the week.

Duo take over Investec energy from Guinness

Investec has replaced Tim Guinness on its flagship global energy fund after recruiting two sell-side analysts from Goldman Sachs.The veteran fund manager, who is chief executive of Guinness Asset Management, had managed the £235m global energy fund since May 2003 as well as running the £800m offshore version since launch in 1998.Mark Lacey and Jonathan […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com