F&C Ventures, which earlier this year completed its management buyout from Foreign & Colonial Management, has renamed itself Graphite Capital. Choosing a name, notes Graphite Capital’s Jeremy Gough, was a more protracted and difficult task than expected particularly as the team wanted a meaningful rather than invented name.
As reported in evcj’s February issue it’s business as usual at Graphite Capital, which as part of the Foreign & Colonial empire has been in existence for some 20 years. Having made 12 investments, which committed GBP100 million in capital in 2000, the firm still has some GBP250 million of its fund to spend.
Graphite Capital’s largest and best-known fund is the Foreign & Colonial Enterprise Trust (FACET). FACET will change its name to Graphite Enterprise Trust, although this is subject to shareholder approval.
The catalyst for F&C Ventures’ management buyout was the sale of HypoVereinsbank’s 90 per cent stake in Foreign & Colonial to the Dutch insurance company Eureko. The deal that was to see F&C Ventures gain its independence was signed shortly before Christmas.