The Investment ManagerLivingbridge has one of the largest and most experienced teams in the VCT industry and has been involved in managing the Baronsmead VCTs from their inception in 1995.
Livingbridge VC LLP * ('Livingbridge VC') is the Investment Manager of the Baronsmead VCTs. It took on this role on 1 June 2014 following the novation of each of the respective Baronsmead VCT management agreements. The previous Investment Manager, Livingbridge EP LLP * ('Livingbridge EP'), had been the Investment Manager since July 2005.
Livingbridge VC has adopted a 'top-down, sector-driven' approach to identifying and evaluating potential investments by assessing a forward view of, firstly, the business environment, then the sector and, finally, the specific opportunity. Potential investee companies will typically need to exhibit pricing power, together with the ability to scale up their businesses. Based on its research, the Manager has selected a number of sectors that it believes will offer attractive growth prospects and investment opportunities. These sectors currently are: Business Services, Consumer Markets, Financial Services, Healthcare & Education, Energy & Environmental and Technology, Media & Telecommunications.
Livingbridge VC was incorporated and registered in England and Wales on 16 June 2006 as a limited liability partnership, with registered number OC320408, and is authorised and regulated by the Financial Conduct Authority (FCA). The registered address of Livingbridge VC is 100 Wood Street, London EC2V 7AN. Several of the individual partners of both Livingbridge VC and Livingbridge EP have worked together since 2005. Before 2005, said partners were employees or directors of ISIS Equity Partners plc which was the Investment Manager of the Baronsmead VCTs when the first Baronsmead VCT was launched in 2005.
* Previously known as ISIS VC LLP and ISIS EP LLP respectively.
The VCT Team
The senior members of the VCT team are set out below.
Andrew Garside (partner) joined Livingbridge in 2005 and is responsible for the new investment activity for the Baronsmead VCTs leading the unquoted investment teams in London, Birmingham and Manchester. He is also jointly responsible for the overall investment management of the Baronsmead VCTs. He has extensive private equity experience having worked for 3i plc for 14 years (1984 to 2004), latterly as the director for 3i North, based in Leeds.
Sheenagh Egan (partner) joined Livingbridge in 1997. She is the Chief Operating Officer and is jointly responsible for the overall management of the Baronsmead VCTs. Before joining Livingbridge, her experience encompassed both corporate finance, advising on private equity transactions, and corporate recovery. She trained as a chartered accountant with Deloitte, and has also worked for PricewaterhouseCoopers.
Since joining Livingbridge in 2003, Paul has completed investments in businesses including CableCom, TVC, Happy Days Nurseries, Enotria and Crew Clothing. Paul previously spent 18 years with Barclays, the last seven years within the leveraged finance team. During his time in leveraged finance, he completed more than 30 deals, including Early Learning Centre, Salter Housewares and Logicom.
Ken Wotton joined Livingbridge in February 2007 as a fund manager on the quoted investment team. He had spent the previous two years at Evolution Securities where he worked in equity research, specialising in the Telecoms and Technology sectors, focusing on smaller companies with significant experience of AIM market fund raisings. Prior to that, he spent five years in the equity research department of Commerzbank Securities where he focused on the pan-European Telecoms sector. Ken qualified as a chartered accountant with KPMG, London.
Michael Probin joined Livingbridge in 1999 and is responsible for investor relations with Shareholders of the Baronsmead VCTs’, financial advisers and those commentating on the VCT industry. He has experience of tax efficient investments, having previously worked on Business Expansion Scheme products at AXA Sun Life Group from 1989 to 1999.
Adam Holloway (partner) joined Livingbridge in 1999 and has overall responsibility for all portfolio management activities within Living Bridge. He also directly manages investments and is an active board member of several Baronsmead investee companies. Previously he worked at Deloitte where his experience encompassed corporate finance, corporate restructuring and insolvency.
Bevan joined Livingbridge in 2006 initially working on the five Baronsmead VCT funds, first as an analyst and then managing the finance team when the back office function was brought in-house. He subsequently joined the portfolio management team working on a number of Livingbridge portfolio companies including Crew Clothing, Williams Medical Supplies, Eque2 and MLS.
Bevan qualified as a Chartered Accountant with KPMG Wellington in New Zealand. During his time with KPMG, Bevan worked with numerous small to medium sized businesses across a variety of sectors including retail, healthcare and business services.