Reuters UK – Hedge fund millionaire Bertrand des Pallieres’s SPQR Capital has launched a bid to trump BlueGem Water’s proposed stake building in stockbroker Panmure Gordon & Co.

SPQR said that, via vehicle P.G. Holdings, it proposed to take part in a placing of at least 43 percent of Panmure’s capital at a price of at least 28 pence per share, a minimum total spend of 17.4 million pounds.

Last month, private equity firm BlueGem Capital Partners said it would take a stake of 40 percent in Panmure at 24 pence per share.

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Tags: amp, bertrand des pallieres, capital-partners, hedge fund, millionaire, pence, private equity firm, reuters, spqr-capital, stake, stockbroker, trump

ShareCast – Private equity group BlueGem is to take a 40% stake in stockbroker Panmure Gordon in a move that will inject £17.3m of capital into the broker.Panmure Gordon has placed 72m new shares with BlueGem at 24p per share.

The acquisition of the stake represents BlueGem’s fourth investment and its first in the financial services sector. The company was formed in late 2006 by experienced investment bankers and fund managers to make investments in mid-market companies, predominantly in the UK and Italy.

The net proceeds from the placing will ‘significantly strengthen the company’s balance sheet’, the company said, giving it regulatory assets in excess of £40m, more than three times more than its required regulatory capital.

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Tags: 3m, acquisition, balance sheet, financial services sector, fund-managers, investment bankers, investments, italy, mid market companies, net-proceeds, private equity group, regulatory assets, regulatory capital, stake, stockbroker, three-times