Bramdean Alternatives manager Nicola Horlick is the mystery bidder seeking to buy up the funds' assets, it has been revealed.
The hedge and private equity investment trust today told the London Stock Exchange it had been giving detailed consideration to an approach from Petersfield Assset Management, owned by Horlick.
Bramdean had announced in April, through brokers Cenkos Securities, it was considering a bid from an unnamed source, which it now says was originally made on 17 March.
Horlick is chief executive of Bramdean Asset Management, responsible for managing the Alternatives portfolio.
The company has also been subjected to a bid, by property tycoon Vincent Tchenguiz, who holds a 28% stake through his company Elsina, to replace its board and liquidate the assets for shareholders.
This prompted the board to pledge its own roadmap to realisation of the assets, to be set out by 31 July, failing a suitable bidder coming forward.
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