Britain's top Scout wins £61 million fundraiser badge

An investment fund run by the Chief Commissioner of the Scouts raised £61 million today by floating on London’s junior market to fuel its emerging-markets investments.

Guernsey-based APQ Global, run by chief executive Wayne Bulpitt, has joined AIM with a £78 million market value after placing shares at 100p. They edged up on debut to 101p.

Bulpitt is better known as the first UK Chief Commissioner of the Scout Association, having been a Scout since he was eight.

He also founded Active Group, the financial support services firm.

The fund was set up by chairman Bart Turtelboom, the former boss of emerging markets at GLG Partners and before that Morgan Stanley.

APQ, which is backed by Old Mutual and the Merseyside Pension Fund, has bought the APQ Alexandria fund from Turtelboom, who is also APQ Global’s joint majority shareholder.

“APQ Global’s management team is of the view that emerging markets will offer tremendous opportunities in the years ahead,” Turtelboom said.