Tenon is applying
for FSA authorisation for fund management through Tenon Capital Management
(TenonCap), aiming to invest in distressed businesses with turnaround potential
and turnovers between £5m and £30m, initially through the unregulated T-Fund.
Tenon will invest up to £1.5m in TenonCap and directors will contribute
another £250,000. The firm is looking to aggregate commitments of between £15m
and £20m, , IFA online reports.
‘Having seen several economic downturns we are greatly aware of the
opportunities they can produce’, TenonCap CEO Matthew Bowker said.
‘We believe we are well placed to identify the best opportunities and to
achieve successful turnarounds and profitable exits for our investors.’
Richard Cartwright becomes the new head, taking over from incumbent head of office David Lemon
Brian Burke, business development director, has moved within the firm to 'develop Quantuma’s networks with Sussex professional firms'
Stephen Mills joins the Manchester office from IBM, where he spent 12 years as an associate partner in the data, analytics and cognitive consulting group
Rupert Guppy will be responsible for capital allowances in the southern region, and joins the firm from specialist consultancy E3 Consulting