Electra waits for prices to fall as it builds up war chest to £400m

Michael Bow
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UK listed private equity firm Electra Partners yesterday said expensive price tags on companies being sold had stopped it buying more firms this year after revealing solid numbers in its full year results.

The firm, which has holdings in motor car insurer esure and caravan park operator Park Resorts, said the chasm between buyer and seller expectations had slowed investments despite a massive increase in deal flow. The fund yesterday said realisations for its portfolio this year of £301m was higher than the total amount realised in the previous 24 months. Investments remained broadly flat from £136m to £150m this year. Electra, chaired by Ofcom chair Dr Colette Bowe, has around £400m of dry power from investors waiting to be invested.