Toscafund Asset Management

Last updated
Toscafund Asset Management
Industry Asset management
Founded2000;23 years ago (2000)
FounderMartin Hughes
Headquarters,
Products Investments
AUM US$5 billion (2022)
Website Official website

Toscafund Asset Management is a London-based specialist investment firm which is a major investor in Circle Health Ltd. [1]

It has assets of £4 billion. The Chief Executive is ex Tiger Management employee, Martin Hughes, nicknamed, according to The Times , the 'Rottweiler'. [2] Dr Savvas P Savouri is the chief economist and a partner in the firm. [3]

It was involved in a long argument with Speedy Hire, where it is a major investor, attempting to replace the chairman, Jan Astrand, whom it accuses of “egregious corporate governance failings”. [4] In September 2017, Toscafund Asset Management launched 300 million euro ($359.34 million) private equity fund that focus on small and mid-sized companies. [5] [6]

In December 2019, Toscafund purchased 12% of Ted Baker following the decline in the company's share price. [7]

In January 2020, Toscafund announced that it owned 11.70% of the Stobart Group, [8] this was subsequently increased to 18.8%. [9]

In December 2020, Toscafund announced that it had sealed a takeover of TalkTalk Group which valued TalkTalk at £1.1 billion, taking it private. Toscafund was previously TalkTalk's second largest investor. [10] [11]

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References

  1. "City investor bids to buy Circle in £74m deal". Health Service Journal. Retrieved 29 March 2017.
  2. "Toscafund powers up San Leon stake". The Times. 5 March 2017. Retrieved 29 March 2017.
  3. "With Article 50 triggered today, has the British pound already suffered the worst of Brexit anxiety?". CityAM. 29 March 2017. Retrieved 29 March 2017.
  4. "Toscafund issues last-ditch attempt to oust Speedy Hire chairman". The Telegraph. 5 September 2016. Retrieved 29 March 2017.
  5. White, Lucy (2017-09-13). "Toscafund launches €300m fund to invest in unlisted financial companies" . Retrieved 2017-10-09.
  6. "Toscafund to launch 300 million euro private equity fund". Reuters. 13 September 2017. Retrieved 2017-10-09.
  7. "hedge fund increases stake ted baker".
  8. "Notification of Major Interest in Shares".
  9. "Tosca Fund increases to 18.8%".
  10. "TalkTalk seals £1.1bn takeover deal".
  11. Williams, Christopher (19 December 2020). "TalkTalk buy-out underpinned by £527m in costly borrowing" . Sunday Telegraph. Retrieved 22 December 2020.