Ian Battersby ian. battersby @ senecapartners. co. uk 01942 271 746
Ian Battersby is responsible for Seneca’ s relationships with wealth managers and intermediaries and evolving investment strategies.
The growth in demand for our existing EIS growth capital portfolio over the last couple of years has been excellent and we expect this to continue. However, we understand that growth capital isn’ t for everyone because whilst the target returns can be highly attractive, there are inherent risks attached to an investment in generally younger, growing companies. With our investment in the storage sector, the dynamics are significantly different because we are investing in freehold or long leasehold sites, tangible balance sheet items, which potentially afford investors a level of downside protection. With investors’ funds being committed to bricks and mortar, the return profile is lower but the underlying security comfort is commensurately higher. The investment trajectory is therefore much flatter and returns are targeted at £ 1.20 per £ 1 invested. Perhaps more significantly, investors will receive 99.99 % of the first £ 1.20 * received on any sale proceeds, supplemented by a share of any proceeds above that figure. Management are incentivised above a return of £ 1.20 * which is consistent with all of our products by putting investors first and gaining our rewards based on successful investment outcomes.
Chris Bullough, Assistant Director of Corporate Finance at Seneca worked on the investment structure and financial modelling alongside Head of Private Equity, Tim Murphy, who led discussions with the management team who are operating under their new brand, SureStore.
* per £ 1 invested, net of any Custodian fees or advice fee facilitated
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