Inflexion focuses on buy-outs

Aberdeen Asset Managers has taken over the management contract of Guinness Flight VCT from Inflexion Private Equity.

The move by Inflexion comes after it closed its second buy-out fund at £165 million.

Inflexion’s Iain Jamieson explains the firm started managing the £19.1 million VCT in 2004. After successfully negotiating two share buy-backs at the beginning of last year, the share price has risen from 38p to 64p.

However, Jamieson notes that Inflexion sees itself as more suited to the buy-out market, where it specialises in enterprises with values of between £10 million to £50 million.

‘We see ourselves as being better at the buy-out side than the VCT side,’ he says. After closing the second fund, the firm currently has £300 million of funds under management.

As for the VCT market, Jamieson adds that it remains buoyant and there ‘are a number of good potential investments out there’.

2007 research carried out by Business XL has shown that Venture Capital Trusts (VCTs) currently have over £1 billion to invest in young, growing companies.

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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