Summary
Alchemy Partners is a British private equity firm, which specialises in investing in distressed and undervalued or underperforming businesses and other special situations through debt and equity throughout Europe.[1]
 | |
| Company type | Limited liability partnership |
|---|---|
| Industry | Private Equity |
| Founded | 1997 |
| Headquarters | London, United Kingdom |
Key people | Dominic Slade (Managing Partner), Ian Cash (Partner), Frits Prakke (Partner) |
| Products | Investments, private equity funds |
| Total assets | £1500 million |
| Website | www |
Alchemy was founded in 1997 by Martin Bolland and Jon Moulton.[2] Before launching dedicated distressed vehicles, it invested in other transactions. Notable transactions included Four Seasons Health Care,[3] Alcentra[4] and Phoenix IT.[5]
Alchemy came to public notice in 1999, when it was negotiating to buy Rover Group from BMW; its advisory board members included former Rover MD Kevin Morley. After public protests, the discussions were abandoned when the government imposed additional conditions to the transaction.[6]
Alchemy launched its first distressed debt fund, Alchemy Special Opportunities, in 2006 with a final close of £300m.
Moulton resigned from Alchemy in September 2009, saying that he disagreed with plans by other partners to turn Alchemy into a specialist financial services firm.[7]
Alchemy raised £500m for the second distressed debt fund in 2010 and £600m for Alchemy Special Opportunities Fund III in March 2014.[8][1] A fourth fund was announced in August 2017,[9] with a final close of $1.2bn in October 2018.[10]
The Funds invest in the debt and equity of public and private companies in the UK and continental Europe. Funding is provided by a large number of blue-chip investors including major banks, pension funds, fund-of-funds, university endowments and high-net-worth individuals. Today the firm manages over £1.5bn.[1]
Alchemy is structured as an advisory business based in London, Alchemy Partners LLP, which advises a fund manager based in Guernsey, Alchemy Partners (Guernsey) Ltd.[1][11]
Investments edit
In November 2011, Alchemy, together with Ashmore, invested $6.43m in Seed Infotech.[12] In May 2014, Alchemy invested in Hampshire Trust Bank.[13] In November 2016, Alchemy invested an undisclosed amount in M2 Subsea, the Aberdeen and Houston based provider of remotely operated vehicles for the oil and gas industry.[14][15]
In June 2021, Alchemy invested £100m in London-based payment service provider DNA Payments.[16][17] In October 2021, Alchemy invested $90m in Apollo Group Holdings, an independent Lloyd's specialist insurance and reinsurance group, based in London.[18][19]
References edit
- ^ a b c d "Alchemy Partners website". Archived from the original on 2008-11-20. Retrieved 2008-09-04.
- ^ Jon Moulton, founder, Alchemy Partners: Dicing with the debt meister. The Independent, 29 October 2006
- ^ "Care homes net Alchemy £200m". The Independent. 2004-07-05. Retrieved 2024-02-25.
- ^ "Alcentra's Credit Alternatives Vision". thehedgefundjournal.com. Retrieved 2024-02-25.
- ^ Wray, Richard (2004-10-27). "Phoenix float will enrich chief". The Guardian. ISSN 0261-3077. Retrieved 2024-02-25.
- ^ "BBC News - BUSINESS - Alchemy shies away from Rover risk". news.bbc.co.uk. Retrieved 16 April 2019.
- ^ "Alchemy hit by Moulton's parting shots". Financial Times. 3 September 2009. Retrieved 16 April 2019.
- ^ "Alchemy fund eyes distressed companies". Financial Times. 4 April 2011. Retrieved 16 April 2019.
- ^ "Alchemy Partners prepares for flagship fund launch". Financial News. 22 August 2017. Retrieved 15 May 2018.
- ^ "Alchemy Partners Portfolio Investments, Alchemy Partners Funds, Alchemy Partners Exits". www.cbinsights.com. Retrieved 2024-02-21.
- ^ "Alchemy fund eyes distressed companies". Financial Times. April 4, 2011.
- ^ "Alchemy Partners - Investments, Portfolio & Exits - Tracxn". tracxn.com. 2024-01-09. Retrieved 2024-02-23.
- ^ Hosking, Patrick (2024-02-21). "Alchemy Partners step into banking". The Times. ISSN 0140-0460. Retrieved 2024-02-21.
- ^ "M2 Subsea attracts ROV investment". World Pipelines. 2016-11-01. Retrieved 2024-02-25.
- ^ "Alchemy invests in M2 Subsea | Unquote". www.unquote.com. 2016-11-01. Retrieved 2024-02-25.
- ^ "Alchemy Partners invests £100m in DNA Payments". Fintech Futures. 16 June 2021. Retrieved 24 February 2024.
- ^ "DNA Payments Raises £100 Million to Accelerate Growth and Make New Acquisitions". www.businesswire.com. 2021-06-14. Retrieved 2024-02-24.
- ^ "Apollo gets $90m investment from Alchemy, to build on hybrid Lloyd's model". Reinsurance News. 11 October 2021. Retrieved 26 February 2024.
- ^ "Apollo Group Holdings seals multi-million investment". Insurance Business. 12 October 2021. Retrieved 26 February 2024.
External links edit
- Official website