Candover to stabilise after ‘difficult year’
11 April 2012
Blue-chip private equity house Candover Partners today said it would spend the rest of 2010 stabilising after a "very difficult year" in which it was forced to stop all new deals.
Candover's asset values rebounded in the second half of last year, from 902p per share in June to 1026p at the end of December.
That helped it make a pre-tax profit of £4.6 million for 2009, after diving £215.1 million into the red during the previous year.
Its chief executive, Michael Fallon said: "We're focusing on managing our existing portfolio this year rather than making new deals."
He said a public fundraiser to raise investment funds was a possibility.
