Better Capital promises more deals after a strong first year

first_imgMonday 29 November 2010 7:59 pm whatsapp whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesNoteabley25 Funny Notes Written By StrangersNoteableyHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald JON Moulton’s turnaround house Better Capital reported encouraging progress in its first interim results yesterday. Moulton, founder and managing partner, said they were “quite pleased with the progress to date.”It has committed £57.5m to four firms: Gardner, RD Precision, Reader’s Digest and Calyx. The portfolio generated a profit of £3.5m in the period.Analysts say the fund currently generates a 12 per cent premium compared to its net asset value. The fund, launched in November 2009 at 100p a share, raised more money in June at 110p a share, taking the total fund to £210m. “With the initial restructurings well under way and proceeding generally according to plan, coupled with the impressive early results of Gardner, progress so far is encouraging,” said Better Capital’s chairman Richard Crowder.Moulton said the fund, which takes majority stakes in distressed companies, was targeting “companies that have got the opportunity to do better, and need extra capital and a change in management to get there.”The fund should be substantially invested by the end of 2011, through between four and ten deals, Moulton said. KCS-content center_img Tags: NULL Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Show Comments ▼ Share Better Capital promises more deals after a strong first year last_img