Much good may it do them but the outgoing investment team at Electra Private Equity do seem to be doing a spectacular job of raising money for the quoted private equity fund. Yesterday marked the second sale of an investment in a week, Electra’s stake in Innovia for £106 million. This comes after the sale of Parkdean Resorts, the caravan holiday park operator, from which Electra will receive £405 million.
The investment manager is Epiris, which is to be axed at the end of May under the reforms being carried out by Edward Bramson, the activist investor who has almost 30 per cent of Electra. Epiris, formerly known as Electra Partners, acted as the outsourced manager; Mr Bramson, the acting chief executive, wants to build