LONDON (Alliance News) - B.P. Marsh & Partners PLC Wednesday said it has seen a strong flow of new business opportunities and is continuing discussions on a number of them, as the private equity firm issued an update ahead of its results for its last financial year.
In a statement, B.P. Marsh and Partners, which provides venture capital to young firms, said it had GBP8.5 million of net cash available for investment at the end of January, the same day it increased its stake in LEBC Holdings Ltd to 34.91% by investing GBP1.0 million in the financial advisory firm.
That deal was announced on February 6.
B.P. Marsh was positive about portfolio companies Besso Insurance Group Ltd, The Broucour Group Ltd, and Hyperion Insurance Group Ltd. Meanwhile, MB Prestige Holdings PTY Ltd is trading in line with the private equity firm's expectations.
"The general mood is one of increasing optimism, demonstrated by Deloitte's CFO Survey of Q4 2013, in which a record 57% of CFOs say this is a good time to take risk and business optimism is running at the highest level in three-and-a-half years," B.P Marsh said in a statement.
The insurance market remains competitive, providing opportunities for companies willing and ready to innovate, whilst delivering a high quality service," the company added.
The group expects to report the results for the year to January 31, 2013 on June 3, 2014.
B.P. Marsh and Partners Shares were Wednesday quoted at 138.00 pence, up 5.50 pence, or 4.2%.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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B.p Marsh (BPM)