Better was forced into huge write-downs on many of its companies during the six months ending September 30 after poor trading. Everest’s value was cut by £16 million, stationery group Spicers-OfficeTeam by £35 million, and aerospace company CAV by £28 million.
Better has also had to plough a further £7 million into fashion chain Jaeger.
Another portfolio company, luxury yacht maker Fairline, was sold for just £2 million during the period.
Better Capital is investing another £7 million in Jaeger (Picture: Jaeger)
Jaeger
It was valued at £13.5 million in March.
The writedowns saw the 2012 fund’s net asset value (NAV) fall to £263.3 million at the end of September from £354.1 million in the prior year. NAV per share including distributions is now 77.71p, down from 98.06p at the last valuation.
