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Toscafund Asset Management

Toscafund Asset Management is a British specialist investment firm which is a major investor in a number of companies including Circle Health Ltd.[1]

As of 2020, it had 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]

History

Starting in 2016, it was involved in a long term argument with Speedy Hire, where it was 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]

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. Lucy White. Toscafund launches €300m fund to invest in unlisted financial companies 2017-09-13, 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. Christopher Williams. TalkTalk buy-out underpinned by £527m in costly borrowing Sunday Telegraph, 19 December 2020, retrieved 22 December 2020^