John Moulton raises £142m as Better Capital prepares to list

Among the bidders Moulton – who acrimoniously split from Alchemy Partners, a firm he co-founded, in September – reportedly attracted to the fund are Ruffer Investment Management, BlackRock Investment Management, Scottish Widow Investment Partnership, Aviva Investors Global Services, Artemis Investment Management, Baillie Gifford & Co, and Merseyside Pension Fund. Moulton is said to have retained 10.5 per cent of Better Capital.

The Guernsey-headquartered company is reportedly a feeder vehicle for a traditional private equity fund, run by Moulton, which will target distressed companies in the UK and Ireland.

Speaking to the Financial Times, Moulton said that he could have raised more capital if the Dubai debt crisis had not spooked several potential investors.

News of Moulton’s Better Capital emerged just weeks after he left Alchemy Partners, the firm he founded 12 years ago, due to disagreements with current managing partner Dominic Slade about the direction the firm was taking.

Since then, Alchemy has reportedly shut its doors to new deals, with no plans to invest or raise funds in the near future. The firm recently exited property solutions company Environmental Property Services as part of a move to return capital to investors.

Copyright © 2009 AltAssets