Founder heads Libertas management buy-out
THE corporate finance division of small to mid cap financial services group Libertas Capital has been rescued out of administration by a management buy-out team led by the firm’s founder Jakob Kinde.
The buy-out team is thought to have offered just over £1m for the division, including a down payment and a pledge to return a proportion of recovered debts.
Libertas ran into financial problems last year and delisted from Aim in March. It eventually fell into administration in May.
The new entity has been renamed Libertas Partners, and will be run by a board comprising Kinde, chief executive Tim Murray and Gerard Mizrahi, the chief executive of Charles Street Securities, which is in charge of re-financing the operation.
Libertas Partners plans to rebuild its securities business, focusing on the real estate, natural resources, technology and emerging markets sectors.