TIDMCHRY
RNS Number : 8705N
Chrysalis Investments Limited
07 June 2022
The information contained in this announcement is restricted and
is not for publication, release or distribution in the United
States of America, any member state of the European Economic Area
(other than professional investors in Belgium, Denmark, the
Republic of Ireland, Luxembourg, the Netherlands, Norway and
Sweden), Canada, Australia, Japan or the Republic of South
Africa.
7 June 2022
Chrysalis Investments Limited (the "Company")
New Independent Valuation Committee
The Board of the Company has appointed a new independent
valuation committee in preparation for its previously announced
move to a self-managed structure from 1 July 2022. Under the new
structure, the Company's existing management team at Jupiter led by
Richard Watts and Nick Williamson will continue to provide
discretionary portfolio management services, while the Company will
assume direct responsibility for the valuation process. The
existing arrangement, under which it is the responsibility of the
external AIFM to provide the Board with valuations for unlisted
holdings, will cease as of 30 June.
The Board are of the view that the valuation process needs to be
as efficient as possible while also providing for comprehensive and
independent oversight. We are therefore pleased to announce today
that the members of that committee will be as follows:
Lord Rockley (Committee Chairman)
Anthony Rockley was an audit partner at KPMG until 2015 with a
sector focus on private equity and venture capital. Over a 34 year
career with KPMG, Anthony has been responsible for auditing private
equity and venture capital companies and structures. Amongst other
sector specific work, Anthony was a member of International Private
Equity and Venture Capital Guidelines Board for 9 years. The Board
is delighted that Anthony has agreed to become chairman of the new
valuation committee.
Diane Seymour Williams
Diane Seymour Williams has a career spanning over 30 years in
asset and wealth management. She was a listed portfolio manager
with Deutsche Morgan Grenfell, ultimately running DMG's asset
management business in Asia. After returning to the UK, Diane
subsequently held a number of board positions in the financial
services sector. Currently she sits, inter alia, on the boards of
abrdn Private Equity Opportunities Trust plc, Mercia Asset
Management Plc and SEI's European business. Diane brings extensive
fund management and portfolio oversight experience. In addition to
her public company roles Diane sits on the investment committees of
Newnham College, Cambridge and the Canal & River Trust.
Jonathan Biggs
Jonathan Biggs worked at Accel, a leading global venture and
growth capital investor, for 20 years up until 2021. One of the
first hires in Europe, he was the COO of Accel's European business.
During his time at Accel, he raised over $2.5bn in five early stage
venture funds focused on Europe. Jon has subsequently joined SVB
Capital as a managing partner where he is a senior leader in its
funds management business. Jonathan's venture investing experience
in the Company's sector over many years will be extremely helpful
to the committee in its assessment of the portfolio.
The fourth member of the committee will be Tim Cruttenden who
has been a director of the Company since its formation. Tim is CEO
of VenCap International plc, one of Europe's largest fund of fund
investors in the venture and growth capital sectors. Tim's
knowledge of the sector, portfolios and investments will be
extremely beneficial to the committee.
Andrew Haining, Chairman of the Company commented:
"I am delighted that Chrysalis has been able to attract such a
well-qualified group of individuals whose combined skill sets cover
all the aspects required for the valuing of an unlisted portfolio.
Credibility in our valuation process is absolutely fundamental to
our shareholders. I am sure the new committee will provide fresh
input and rigour, enabling us to build on the work carried out by
the Jupiter valuation committee. I believe our existing (and
prospective) shareholders will be able to take great comfort from
the combined experience being brought to bear in our valuation
process going forward.
One of our key goals is to make the valuation process for
Chrysalis as efficient and timely as possible whilst at the same
time satisfying the market's requirement for thoroughness,
independence and consistency. I am certain the skills these new
committee members bring will enable us to achieve that goal."
-ENDS-
For further information, please contact:
Media:
Montfort Communications: +44 (0) 7542 846 844
Charlotte McMullen /Georgia chrysalis@montfort.london
Colkin /Lesley Kezhu Wang
Jupiter Asset Management: +44 (0) 20 3817 1696
James Simpson
Liberum: +44 (0) 20 3100 2000
Darren Vickers / Owen Matthews
/ Chris Clarke
Numis: +44 (0) 20 7260 1000
Nathan Brown/ Matt Goss
Maitland Administration (Guernsey)
Limited: +44 (0) 1481 749364
Elaine Smeja / Aimee Gontier
LEI: 213800F9SQ753JQHSW24
A copy of this announcement will be available on the Company's
website at:
https://www.chrysalisinvestments.co.uk/
This announcement is for information purposes only and is not an
offer to invest. All investments are subject to risk. Past
performance is no guarantee of future returns. Prospective
investors are advised to seek expert legal, financial, tax and
other professional advice before making any investment decision.
The value of investments may fluctuate. Results achieved in the
past are no guarantee of future results. Neither the content of the
Company's website, nor the content on any website accessible from
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