Epiris Announces Next Steps in Succession Plan

POSTED 05 January 2016

Electra Partners is pleased to announce the next step in its long-term succession plan with the appointment of Alex Fortescue, Chief Investment Partner since 2011, as Managing Partner. Alex succeeds Hugh Mumford, who retires after 34 years at Electra Partners but who will continue as Chairman of the Electra Partners Investment Committee. Bill Priestley succeeds Alex as Chief Investment Partner. The changes took effect on 1 January 2016.

Alex Fortescue said:

"Under Hugh's long and successful leadership Electra Partners has developed a unique style of private equity investing, becoming known for its patient, disciplined and flexible approach. This has been at the heart of our long-term investment performance, which in turn has generated compound growth on Electra Private Equity's share price of more than 14% per annum over the last 23 years.

"I look forward to continuing to work with my team at Electra Partners to deliver more of the same in the future. Bill has had a big impact since he joined in 2014 and will be a great leader of the investment team. We are very pleased to be retaining Hugh's wisdom and experience through his continued chairmanship of the Investment Committee."

Hugh Mumford said:

"It is with great confidence that I am handing over the Managing Partner role to Alex Fortescue, who as Chief Investment Partner has led the investment team and strategy through an extremely successful period since 2011, with the consequence that the firm is now in as strong a position as at any time since I first joined.

"We started planning succession in 2010 and, in line with our plan, have strengthened and expanded the team since then with a number of new appointments as well as with promotions from within the firm. Today Electra Partners has a high-quality team of experienced investors, which means that we have the right level of expertise and talent to continue to deliver superior investment performance."

Notes:
Alex Fortescue joined Electra Partners as Chief Investment Partner in April 2011, having previously been Global Head of the Retail and Consumer Group at Apax Partners. He has led or been involved in a number of transactions, including Parkdean Resorts, Knight Square, CALA, Davies Group, AXIO and Hotter Shoes.

Hugh Mumford joined Electra Investment Trust ("Electra") in 1981, becoming a Director in 1984. In 1989 Electra Kingsway was established to manage the investment activities of Electra on an exclusive basis. Hugh became Chairman of the Investment Committee of Electra Kingsway at the outset and was appointed Chief Executive in 1991. Hugh has retained these roles in the various successor entities, the most recent being Electra Partners LLP which was established in 2006.

Bill Priestley joined Electra Partners as Partner in January 2014 having previously been Managing Director at LGV Capital. He has led Electra's investments in Innovia Group, The Original Bowling Company and TGI Fridays.

Ends

For further information please contact:
Andrew Honnor and Matthieu Roussellier, Greenbrook Communications
+44 (0)20 7952 2000

Nicholas Board and Andrew Kenny, Electra Partners
+44 (0)20 7306 3902

Note to Editors:

About Electra Partners LLP
Electra Partners is an independent private equity fund manager with over 25 years' experience in the mid-market. During the last 25 years it has invested in excess of £4.5 billion in over 200 deals. As at

30 September 2015, the firm had funds under management of over £1.8 billion including capital available for investment of nearly £350 million.

Electra Partners' flexible investment strategy allows it to invest broadly across the private equity market with a particular focus on Buyouts and Co-investments, Secondaries and Debt. In addition to this, its long-term capital base means it is not constrained by expiring investment periods or exit pressure driven by fund raising cycles and is therefore able to realise investments only when returns are maximised for its investors.

The firm's major client is Electra Private Equity PLC ("Electra"), a private equity investment trust which has been listed on the London Stock Exchange since 1976. Electra's long-term investment performance has been consistently superior to private equity and other benchmarks. Over the ten years to 30 September 2015, Electra has seen diluted NAV per share growth of 244%. This is seven times the NAV per share return of the Morningstar Private Equity Index (ex. Electra). It is also equivalent to a ten-year annualised return of 13%, at the upper end of Electra's target range of 10-15% over the long-term.

For further information please visit www.electrapartners.com.

Electra Partners LLP is authorised and regulated by the Financial Conduct Authority.