Englefield Capital, a UK-based middle-market private equity shop launched last May, has closed its inaugural fund with E660 million. The group is run by former Warburg Pincus partner Dominic Shorthouse, who left the private equity giant in November 2000 over a disagreement regarding the firm’s succession plan. Other Englefield managers include Etienne de Villars (former president of Walt Disney International TV), Eric Walters (former partner at Schroder Ventures), Adam Barron (Warburg Pincus) and Edmund Lazarus (Morgan Stanley Capital).
JP Morgan Chase & Co. reported $91 million of fourth-quarter losses for its private equity business, versus a $348 million loss in the fourth quarter of 2001. The unit has now recorded a loss in each of the past 10 quarters, including a total of $733 million in 2002.