Which will be co-managed by London-based firm
Richard Branson is foraying into the private equity business and is set to become a partner in a private equity fund, which will be co-managed by London-based firm Metric.
“I have been impressed by the development and growth of Metric Capital,” Branson said in a statement.
“Their experience in the rapidly changing consumer and digital markets is particularly attractive and I look forward to helping John and his team with this new fund.”
Branson, the founder of the Virgin Group, is reportedly aiming to raise as much as $500m from institutional investors around the world with the intention of pursuing “consumer deals of up to €2bn in enterprise value,” according to the Financial Times.