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Patrick Austen to join UK-based Nova Capital

Patrick Austen, former executive director of CRBFL Investment Trust and chief executive of Liberty, has joined UK-based Nova Capital Management. Austen has extensive operational experience in a variety of industries, specialising in turnarounds and corporate restructuring.

'Our unique offering is based around the operational management resource that we bring to venture and private equity assets to help them grow in value,' said Michael Kelly, managing partner of Nova Capital. 'Patrick is one of the most experienced executives operating in this field. He is a great addition to our team.'

Nova Capital Management was formed in 2002. The firm's initial deal was the acquisition of a £70m portfolio of investments from Lica Development Capital. The firm does not intend to raise an independent fund.

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