Introduction

The investment portfolio consists of buyouts and co-investments,
secondaries, debt and funds. 

Buyouts and Co-investments

Buyouts and Co-investments form the major part of Electra’s portfolio and consist of direct equity investments in 9 private companies with an aggregate value of £264 million at 30 September 2018. The 4 largest investments account for 95% of the Buyouts and Co-investments portfolio.

 

Investment Portfolio    2018
£m
2017
£m
2016
£m
2015
£m
2014
£m
2013
£m
Buyouts and Co-investments   264  321 1,461 1,418 1,052 620
Secondaries1   1  2 82 92 105 126
Debt2   1  - 51 17 7 97
Fund investments3   1  35 102 103 108 125
Investment Portfolio   267 358 1,696 1,630 1,272 968

 

1. Secondaries - Secondary investments consist of limited partnership interests in third-party private equity funds purchased from investors exiting their positions prior to the end of the fund’s life. As a result of their relative maturity, secondary investments typically produce faster cash returns than Buyouts and Co-investments.

2. Debt - Debt investments consisted of loans to UK or international borrowers acquired in either the primary or the secondary market as either individual or portfolios of assets.

3. Fund investments - Fund investments consist of limited partnership interests in third party private equity funds, where Electra made a primary commitment to that fund.  No new primary commitments have been made since 2011.

Key investments

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TGI Fridays
UK franchise of an American themed restaurant chain providing a high energy, fun environment with a wide demographic appeal.
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Hotter Shoes
UK’s largest shoe manufacturer with a strong focus on comfort and service.
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Sentinel Performance Solutions
A leading UK manufacturer of products to improve the performance of residential heating and hot water systems.
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Special Product Company
A US based manufacturer of industrial cabinets, serving the telecom and cabling sectors.
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