Electra Board announces a review of strategy following shareholder demand


Originally published at: http://whichinvestmenttrust.com/electra-board-announces-a-review-of-strategy-following-shareholder-demand/
The leading private equity trust has been a target of an activist investor which has resulted in a shakeup of the Board, as the activist gained Board representation. The board of Electra Private Equity has launched a review into its investment strategy, policy, and structure, following pressure from shareholders, likely to have been led by…


‘Maximizing long term shareholder value’ doesn’t sound compatible with ‘…but our best guess is that Sherborne will seek an exit over time at close to NAV and might therefore push for a realisation share class, or other regular returns of capital via buybacks and tenders’

Short-term interests of those with financial clout at the expense of the genuine LONG term investor - years versus decades.


Bramson kind of secured victory by buying up so much of the trust. It’s a shame because Electra had a great performance record so I can’t see what he can improve except for winding it up or shrinking it to return cash to investors.

It’ll be interesting to see what plans are announced but there’s still a long wait. It taking so long because he didn’t have a clue about what he would do with it I wonder!