Widdowson assembles team to launch Odyssean Capital LLP
Stuart Widdowson and the board of the Harwood Capital Group are delighted to announce the launch of their joint venture, Odyssean Capital LLP. Harwood Capital Group will provide operational infrastructure as well as seeding and financing the new business.
Odyssean will combine long term public and private equity investing expertise to launch a highly focused, unconstrained, long only strategy investing in quoted UK smaller companies. Constructive corporate engagement will be a key part of Odyssean’s approach.
Odyssean has made a handful of strategic hires to support the growth of the new business. Ed Wielechowski, a former Principal in the Technology investment team at HgCapital joins Stuart on the fund management team and Kate Reid, formerly at Algebris Investments, joins to oversee investor relations. Former HgCapital founder and colleague, Ian Armitage joins the team as a non-executive Chairman.
Widdowson left his role as lead fund manager for GVQ’s Strategic Equity Capital Trust (“SEC”) in February 2017 after a seven-and-a-half-year tenure, during which SEC’s Net Asset Value (“NAV”) returned 377% per share (net of fees), using no gearing. SEC’s discount narrowed significantly in absolute and relative terms during this time.
Stuart Widdowson, Managing Partner of Odyssean Capital says:
‘I am delighted that Odyssean has been able to attract individuals of such high calibre at its outset, who share a vision to align the interests of owners, fund managers and clients while delivering excellent returns. We believe the introduction of MiFID II legislation will lead to many more opportunities to find mis-priced UK smaller quoted companies over the next few years, so timing could not be better to launch our investment strategy.’
‘Smaller companies have significantly outperformed their larger counterparts over the long term but generally remain under-researched, undervalued and often overlooked. There’s a fantastic opportunity to generate premium returns in this investment space and I feel we have an excellent team in place to capitalise on the coming market opportunity.’
This document is for information purposes only. Nothing contained herein constitutes investment, legal, tax or other advice, nor is it to be solely relied on in making an investment or other decision.
The views expressed herein are those of Odyssean and its managing partner at the time and are subject to change. Past performance is not indicative of future performance. Every effort has been made to ensure the accuracy of the information provided. Odyssean makes no warranty, expressed or implied, regarding such information. This is not an invitation or solicitation to invest in any Odyssean product or strategy. Investments should only be made after a thorough reading the relevant legal documents (as and when they become available) by contacting Odyssean at the address stated above, as well as after consulting an independent finance and tax specialist. Sources include Harwood Capital LLP and Bloomberg.