Better Capital’s Jon Moulton, who formerly headed up Alchemy Partners, has acquired what is described as a ‘significant minority shareholding’ in Seneca Investment Managers.
Moulton has made the move though his own family office, Perscitus Advisers, and describes the firm as one with a ‘huge amount of upside potential’.
‘Under Stuart Eaton’s leadership, I have no doubt that an already successful fund management team will go from strength to strength,’ Moulton adds.
‘We have a lot planned for the new company and are backing it to become a major force within UK financial services.’
Seneca Investment Managers has been formed out of Seneca Partners, an asset management company based in Merseyside and set up by Eaton alongside Ian Currie and Alex Dymock in 2010. It manages a suite of investment funds backed by high-net worth entrepreneurs and family offices.
In January Seneca purchased Miton Capital Partners, a profitable fund division of Miton Group, to serve as a platform for the newly-created Seneca Investment Managers.
Eaton says, ‘For someone of the calibre of Jon Moulton to invest in Seneca Investment Managers suggest that our vision for the company is on the right track.
‘Seneca Investment Managers is not simply about offering a more holistic proposition to our existing clients but building a challenger brand in the broader UK fund management sector.’
The backing by Moulton is latest in a line of commitments the traditionally turnaround investment-based supporter has made in recent months.
In January of 2014 he joined Anne Glover, of Amadeus Capital Partners, in leading a £1.5 million injection into an online network brining together institutional investors and private equity fund managers.