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Banking & Finance

Bullish Wignall launches new fund

Article Date:  Feb 20 2009

Mark Wignall, managing partner of Matrix Private Equity Partners, says the firm is in ‘great shape’ for 2009 as it launches a new fund.

Matrix is aiming to raise up to £15 million for its Income & Growth 2 VCT through a “C” share offer, which it will invest alongside in management buy-outs of ‘profitable, cash-generative, privately owned companies’.

Says Wignall, ‘Through 2007 and 2008, [Matrix] didn’t over-pay, we didn’t over-gear nor over-commit. [We now have] significant liquidity available for investment.’

He adds, ‘This dry powder will be deployed behind existing investees as bolt-on acquisition opportunities emerge, and highly selectively in those new investments that are priced more realistically to offer the right balance of return and risk.’

New money raised in the “C” share offer for the Matrix Income & Growth 2 VCT will be invested alongside funds from the other four Income & Growth VCTs.

Wignall concludes, ‘[Matrix] sees an increasingly needy UK smaller companies market offering a vintage 2009 investment crop.’

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