Chairman looks for investments in London
Venture capitalist B P Marsh is on the hunt for deals in the insurance sector.
Chairman Brian Marsh said the firm, which holds a 21% stake in the Hyperion Group and 22.7% in Besso, was ready to invest when the right opportunities came along.
He said managing general agencies, brokers, underwriter agencies and loss adjusters were all potential targets – and he would prefer to invest in a London business with global potential, rather than the rest of the UK, which was “too mature”.
B P Marsh posted a drop in the value of its assets to £39.7m for the six months ending in July, compared with £41.6m for the six months ending in January this year.
Marsh said this was due to writedowns in investments outside insurance. “We are holding it steady during a bad storm and we will resume the calm when the storm is over,” he said.
B P Marsh is listed on the Alternative Investment Market (AIM). It lent Hyperion £2.56m in June to help international expansion.