04 May 2018
This week we celebrate the success of Glasgow-based private equity house, Maven. Started in 2009, the group has since grown to become an independent alternative asset manager with more than £415m of assets under management, including about £250m of property assets.
Managing partner Bill Nixon this week revealed that the business has added around £300 million of new assets over the last 18 months, following announcement last week that Maven had raised a total of £40 million for two of its venture capital trusts.
Mr Nixon commented that there is “strong investor appetite” for tax-assisted investment products due to lower pension allowances.
He said, “Demand for VCTs is very good, and we were able to sell out these two fund offers.”
A partnership between Maven and fellow Glasgow-based group Paradigm Asset Management has recently been announced, with the two joining forces to launch a £50m fund at the end of the summer.
Maven’s investment director, Ramsey Duff, announced that the group was about four months away from launching the fund, which will focus on edge-of-town industrial estates across the UK.
Duff said, “We are looking at launching the fund in the autumn. The industrial fund is the group’s first property fund. We’ll focus on industrial estates across the UK, but not in the South of England. We’re keen to emphasise this is not only a Scotland-centric fund, but a UK-wide one.”