Better Capital eyes up German turnaround investment deals

Oliver Smith
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LISTED private equity firm Better Capital, founded by UK venture capitalist Jon Moulton, said yesterday that there are very few attractive turnaround investments in the UK.

The company said that it would instead look to Germany in the future, “due to the volume of attractive opportunities that would benefit from Better Capital’s investment led modus operandi.”

Better Capital reported it raised £185.6m in additional capital during August, bringing its total capital to £355.5m for its 2012 cell to 30 September.

Of the 2009 cell Better Capital reported £26.5m cumulative distributions to date with £12.4m distributed in the period to 30 September.

“The 2009 cell net asset value for the period is only marginally uplifted, reflecting continuing progress... offset by weaker performances,” the company said in a statement.