Alderwood Capital, the fund management business launched by former Northill Capital founder Jon Little, has made a trio of hires as it begins approaching institutional investors.
The business, which was founded by Little in 2020, seeks to provide equity capital to specialist boutique active managers in order to replace existing shareholders. It is a similar business model to the one employed at Northill Capital, where he was backed by Swiss pharmaceutical billionaire Ernesto Bertarelli and his family.
Alderwood’s investment strategy, open to institutional investors only, will be deployed via a Cayman-domiciled closed-end fund, which will be launched in the coming months, subject to regulatory approval.
Alderwood, which is based in Covent Garden, is owned by partners in the business and a cohort of minority shareholders, the largest of which is Victory Capital – an asset manager which oversees some $133bn.
Little, who prior to founding Northill in 2010 was head of BNY Mellon’s international asset management business, has hired three former Northill Capital colleagues – Rebecca Noyes, Kenny Mansley and Suzette Price. The trio will take on chief financial officer, communications and officer manager roles respectively.
Little said: “The businesses we look for tend to be too niche for public markets funding and too mature for private equity funds. However, uncovering and investing in best in breed managers requires experience, dedication and a singular approach.”
“For too long, investors have been underserved by managers distracted by multiple strategies and fundraising for new products. Alderwood is changing that. In line with our passionate belief in focus and specialisation, we only have one investment approach and plan to manage a single long term fund to deploy our strategy.”
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