Co-Investment Programme
Macaulay Capital seeks to provide investment opportunities to high net worth individuals and sophisticated investors via our Co-Investment Programme.
Members of the programme are offered two ways of co-investing:
Opportunities to invest private capital into individual companies alongside Macaulay
The opportunity to invest in a diversified portfolio of private capital deals carefully selected by Macaulay.
On occasion these opportunities may qualify for favourable tax treatment (EIS or Business Relief) or may be eligible within tax wrappers such as a SIPP or an IFISA
Private capital – why invest in this asset class?
Diversification
Private Capital in a balanced portfolio, alongside traditional asset classes such
as equities, bonds and property, can introduce diversification.
Consistent returns
High returns
The team now at Macaulay Capital has a previous track record of achieving average attractive multiples on invested capital in excess of 2x. The BVCA cites an appealing 1.8x total return on invested capital as the industry standard for the UK private equity deals from 1986 – 2020.*
* data taken from The British Venture Capital and Private Equity Association (BVCA) report titled “Performance and Public Market Equivalent Report 2020”, November 2021.
Our approach
Our main focus is to invest in well established, robust and profitable UK businesses valued at between £2m and £10m, an area of the market under-represented by established funding providers. We believe significant opportunities can be found in these companies which have the potential to produce significant cash generation and capital repayment and a robust and steadily growing dividend stream.
Investment philosophy
We target companies that can be found in the ‘stem’ of the glass.
Portfolio companies
Case studies
Hickton Group
” When Hickton’s founder looked to sell the company, the team now at Macaulay identified our leading position in a niche market, and a deal was negotiated by them with the vendor’s advisors. As partners, they’ve been very supportive and added significant value; helping strengthen the Board and identifying a number of acquisitions. The largest of these saw the founders of that company join the Hickton leadership team, ensuring succession for the next phase of the Group’s growth. Investors saw their holdings increase in value more than 3 times during this period and we’re delighted so many of them remain shareholders. ”
Tony Mobbs
Qualification Check
” Having got Qualification Check up and running, we identified the team now at Macaulay as equity partners for the next stage of the company’s development. As a ‘first-time’ founder within a small business, I’ve found their input and experience invaluable. As well as identifying a Finance Director, to complement an earlier non-executive Board appointment, the Chelverton Investor Club shareholders backed us in a follow-on funding round and we’re now really well placed to capitalise on the exciting developments in our market place. ”
Ed Hall