Turnaround specialist Rutland is seeking to raise £250m for its second fund, Rutland Fund II. Rutland Trust has agreed to commit £100m to the new fund.
The £210m Rutland Fund is drawn down by 75% (£158m including profit share). The new fund will have a similar strategy to the first fund. It will invest in UK companies with difficult strategic challenges or which may be underperforming, in need of restructuring or entering a period of change. The value of the company will typically range from £20m to £150m with Rutland committing between £10m and £40m per investment.