Tuesday 1st April 2008
Matrix takes over Income & Growth VCT
One of the managers of the Income & Growth VCT, Matrix Private Equity Partners, has taken over the sole investment mandate for the trust. The move reflects the VCT’s increased focus on management buy-outs and move away from technology investments.
Foresight Group, which previously managed the VCT jointly with Matrix, has stepped down.
Formerly known as TriVest VCT, the Income & Growth VCT was formed in 2000 and originally employed three managers. Nova Capital Management resigned in September 2007.
The fund has raised £40 million and is seeking a further £15 million in an ‘S’ share offer that will be managed separately from the existing ‘O’ share fund. The minimum investment is £5,000, and the offer period closes on Friday.
Matrix Private Equity Partners is part of Matrix Group, a financial services business specialising in areas including hedge fund management, corporate finance, broking, and private equity fund placement.
It advises on five VCT funds with a total of £130 million under management.
Nick Britton
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