Kestrel Sees More UK Takeovers After Big Wins on Software Deals
- Specialist firm has big stakes in PE targets IQGeo, Gresham
- Co-founder Royde sees more deals as UK assets are mispriced
Photographer: Filip Gierlinski/Kestrel Partners LLP
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A little-known specialist investment firm is set to win big on two UK take-private deals — and is expecting more offers for London’s “mispriced assets.”
Kestrel Partners LLP, which manages a portfolio of small-cap software companies, owns around 27% of IQGeo Group Plc and about 24% of Gresham Technologies Plc — both of which received offers from US private equity firms in recent months. Kestrel will make a profit of £60 million ($76 million) from the two investments, according to fund fact sheets, with IQGeo representing a return of more than six times for the fund.