Peter Hawkes

Somerset is an active manager which follows a generalist approach to invest in UK companies across a variety of sectors and stages of development, allowing clients to build diverse portfolios or adopt focused strategies. They finance early-stage investments, growth capital, equity release from mature businesses, MBOs and MBIs, seeking businesses with sound management teams and good growth prospects. The firm generally participates in private equity transactions with a total entry value of GBP 3-20 million, aiming to create an exit value of GBP15-40 million within three to five years. The firm usually invests GBP1-7.5 million, either as a sole investor or part of a syndicate. Somerset aims to build businesses, usually appointing a Hotbed Member to the Board of an investee company as a non-executive director or chairman to help deliver growth and provide strategic support. The firm works with their investee companies to agree on the most appropriate exit for them, most commonly in the form of a sale, refinancing or flotation. They invest in a wide range of commercial property, including high street and out-of-town retail, office and industrial developments, focusing on transactions of GBP 5-30 million, and offering clients the opportunity to invest directly in individual commercial property schemes, typically in units of GBP 25,000 or GBP 50,000. They seek to increase the value of their property investments by varying occupational leases, reconfiguring floor space and selectively refurbishing.