News

Geoffrey Gorman joins Harwood Private Equity

We are pleased to announce the appointment of Geoffrey Gorman to the team as a senior representative.  Geoffrey is a longstanding associate of Harwood Private Equity and its predecessor JOHCM Private Equity and has been closely involved with our team in the past on a number of investments, particularly cross border public-to-private transactions. Geoffrey is a US resident and will take up responsibilities for originating, executing and monitoring transactions and will provide a direct link to our US investor base. Commenting on the appointment, Christopher Mills said, “We are delighted with Geoffrey’s arrival.  He enhances our resources in an important area of activity, particularly since many of our private equity transactions have substantial United States operations.  He will also bring a wealth of experience to our wider investment strategy.  Geoffrey has worked closely with the team in the past and I am certain he will have a significant influence on our future success.”

Harwood Private Equity

We are pleased to announce that Harwood Private Equity is now established as our new brand.  This follows the acquisition of J O Hambro Capital Management Limited (JOHCM) by Australian fund management group BT Investment Management Limited (BTIM).  The private equity division of JOHCM, known as JOHCM Private Equity, was not acquired by BTIM.  It has adopted the new brand to mark the switch of ownership from JOHCM to Harwood Capital Management. In all respects the day-to-day management of the Trident Private Equity funds remains entirely unchanged. Limited Partners of the funds need take no action. The underlying vehicle for advising TPE2 and managing TPE3 remains North Atlantic Value LLP. The investment team is wholly the same and continues in the same premises.  Our contact details remain unchanged until further notice

JOHCM Private Equity invests in OpenBet Technologies

JOHCM Private Equity is pleased to announce its investment in OpenBet Technologies Limited ("OpenBet"). Headquartered in London, with satellite offices in Australia, North America, China, India and Macau, OpenBet is a leading provider of solutions that facilitate betting and playing online games in multiple languages, currencies, and across numerous channels. Other OpenBet systems allow customers to bet on the outcome of live events with the betting odds offered by major bookmakers. The company generates revenues from recurring licence and maintenance fees; from ongoing software development; and from revenue-sharing agreements. OpenBet's platform and products are used by an expanding range of gaming operators in addition to traditional bookmakers and online gaming specialists. Commenting on the acquisition, Jeremy Brade, a senior partner at JOHCM Private Equity who will join the board of OpenBet, said: "We are very pleased to have invested in OpenBet and look forward to working with the management team, and the lead investor. We are very encouraged by the strength of the company's products and market position, and enthusiastic about the opportunity for significant growth."

Hugh Hayes joins JOHCM Private Equity

JOHCM Private Equity is pleased to announce the appointment of Hugh Hayes as a partner. Hugh begins a full-time role with responsibilities for originating, executing and monitoring transactions. He has worked alongside the team at JOHCM Private Equity for a number of years, both as the chief executive of a portfolio company and as an operational adviser to TPE3. 

Commenting on the appointment, Jeremy Brade said, “We are delighted that Hugh has joined us. He adds to our capacity and brings a wealth of experience in the area of our investment strategy.  Hugh has worked closely with us in the past on transactions and I am confident that his addition to the team will have a significant positive influence on our investment programme going forward.”

Trident Private Equity Fund III appoints Advisory Board

TPE3, which held its final closing in June 2010, is pleased to confirm the appointment of its Advisory Board from amongst the Limited Partners of the Fund. The function of the Advisory Board is to be consulted by the General Partner on general policies and guidelines, investment valuations, prospective investment sectors and conflicts of interest in respect of the Partnership. The Advisory Board does not take part in the management of the Partnership's business. The members, who represent a significant portion of the committed capital of the Fund, are:

Sidney Cabessa, CEO, CIC Finance; Jack Edmondson, Investment Director, Oxford University Endowment Management; Simon Jamieson, Director, FF&P Asset Management Ltd; Brian Phillips, Chief Investment Officer, Greenhill Capital Partners Europe LLP

JOHCM Private Equity exits SiRViS IT

JOHCM Private Equity achieved a full exit from its position in SiRViS IT Limited through a sale of the company to a trade buyer on 14 July 2010, creating a return of 1.5x cash multiple and an IRR of 24%. SiRViS provides a range of IT support services, consultancy and systems installation across the UK. JOHCM Private Equity acquired the business in a public-to-private transaction in 2008.

JOHCM Private Equity invests in Inspired Gaming

JOHCM Private Equity is pleased to announce its investment in Inspired Gaming Group plc (“INGG”) following a public-to-private transaction. INGG, headquartered in London, has been de-listed from London’s AIM market. INGG is a global leader in the development and provision of server-based gaming products. It has four trading divisions and operates in ten countries where it manages over 50,000 gaming and entertainment terminals. Commenting on the acquisition, Jeremy Brade, a senior partner at JOHCM Private Equity who has joined the board of INGG, said: "We are very pleased to have invested in Inspired Gaming Group and look forward to working with the management team, and the lead investor, to make this a successful investment . We are confident of the strength of the company, its market-leading position, and its prospects for growth."

Trident Private Equity Fund III holds final closing

JOHCM Private Equity is pleased to announce the final closing of TPE3 with £78 million of committed capital. Jeremy Brade said, “We are very satisfied with the level of support we have received from our investors in a very difficult fund-raising environment. Our Limited Partners have increased their commitment to us from the previous fund, which we much appreciate. This is a testament to our focus and our track record of delivering superior returns.”