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Electra Private Equity makes total return of 35 percent, to review portfolio

Published 09/12/2016, 08:02
Updated 09/12/2016, 08:10
© Reuters.  Electra Private Equity makes total return of 35 percent, to review portfolio
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(Reuters) - British buyout firm Electra Private Equity (LON:ELTA) said on Friday that it made a total return of 35 percent in the year ended September, helped by M&A deals and record total investment returns.

The company said it would pay a second interim dividend of 110 pence a share and that a review of its portfolio would begin in June next year.

Electra undertook a strategic review, including of the performance reporting of its companies, after activist investor Edward Bramson, who heads Sherborne Investors, fought his way onto the board in 2015 after a bitter battle lasting almost two years.

The review decided to end its relationship with its portfolio manager - Epiris, formerly known as Electra Partners - with the formal separation due to take place in May next year.

The second phase of the strategic review will include a review of the investment portfolio after June 2017, once Epiris has left, and a review of the Electra's future capital allocation policy.

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