Toscafund Asset Management
| Company type | Private company |
|---|---|
| Industry | Asset management |
| Founded | 2000 |
| Founder | Martin Hughes |
| Headquarters | , |
Key people | Martin Hughes (CEO) |
| Products | Investments |
| AUM | US$5 billion (2022) |
| Website | Official website |
Toscafund Asset Management is a British specialist investment firm which is a major investor in a number of companies including Circle Health Ltd.[1]
As of 2020[update], it had assets of £4 billion. The Chief Executive is ex Tiger Management employee, Martin Hughes, nicknamed, according to The Times, the 'Rottweiler'.[2] Dr Savvas P Savouri is the chief economist and a partner in the firm.[3]
History
[edit]Starting in 2016, it was involved in a long term argument with Speedy Hire, where it was a major investor, attempting to replace the chairman, Jan Astrand, whom it accuses of “egregious corporate governance failings”.[4] In September 2017, Toscafund Asset Management launched 300 million euro ($359.34 million) private equity fund that focus on small and mid-sized companies.[5][6]
In December 2019, Toscafund purchased 12% of Ted Baker following the decline in the company's share price.[7]
In January 2020, Toscafund announced that it owned 11.70% of the Stobart Group,[8] this was subsequently increased to 18.8%.[9]
In December 2020, Toscafund announced that it had sealed a takeover of TalkTalk Group which valued TalkTalk at £1.1 billion, taking it private. Toscafund was previously TalkTalk's second largest investor.[10][11]
References
[edit]- ^ "City investor bids to buy Circle in £74m deal". Health Service Journal. Retrieved 29 March 2017.
- ^ "Toscafund powers up San Leon stake". The Times. 5 March 2017. Retrieved 29 March 2017.
- ^ "With Article 50 triggered today, has the British pound already suffered the worst of Brexit anxiety?". CityAM. 29 March 2017. Retrieved 29 March 2017.
- ^ "Toscafund issues last-ditch attempt to oust Speedy Hire chairman". The Telegraph. 5 September 2016. Retrieved 29 March 2017.
- ^ White, Lucy (2017-09-13). "Toscafund launches €300m fund to invest in unlisted financial companies". Retrieved 2017-10-09.
- ^ "Toscafund to launch 300 million euro private equity fund". Reuters. 13 September 2017. Retrieved 2017-10-09.
- ^ "hedge fund increases stake ted baker".
- ^ "Notification of Major Interest in Shares".
- ^ "Tosca Fund increases to 18.8%".
- ^ "TalkTalk seals £1.1bn takeover deal".
- ^ Williams, Christopher (19 December 2020). "TalkTalk buy-out underpinned by £527m in costly borrowing". Sunday Telegraph. Retrieved 22 December 2020.