Adveq and the London Pensions Fund Authority, a local government pension scheme fund have made their first direct co-investment with Next Wave Partners, a UK-based growth capital investor. The investor group has backed Secured Mail which specialises in efficient bulk mail and e-commerce packet delivery.
Adveq, the global private equity investor, and the London Pensions Fund Authority (“LPFA”), one of the largest Local Government Pension Schemes funds in the UK, are pleased to announce the completion of their first direct co-investment with Next Wave Partners (“Next Wave”), the UK based growth capital investor.
Secured Mail, founded by Managing Director Mark Bigley in 2006, specialises in efficient bulk mail and e-commerce packet delivery. The company has grown rapidly and, since Next Wave’s first investment in 2011, has delivered sales growth of 65%.
Alex Gracian, CIO of the LPFA, said: “Part of the investments strategy at the LPFA is to source cost effective co-investment opportunities that will add value to the fund. Working with Adveq we were able to achieve this, we are delighted to be supporting the UK SME sector though this investment.”
Tim Creed, Managing Director at Adveq, added: “Next Wave specialises in transformational growth investments in the SME market and has established a strong reputation for successfully growing companies. We are delighted to be investing in Secured Mail’s further growth and to bring our investors like the LPFA into such exciting opportunities”.
Jonathan Brod, Partner at Next Wave, said: “We are delighted to have attracted investors of the highest calibre in Adveq and the LPFA. Their investment will enable Secured Mail to continue to establish an even stronger foothold in the growing e-fulfillment market and grow at an impressive rate”.
For further information, please contact:
Tel.: +41 (0)58 445 55 30
Alex Jones (on behalf of Adveq)
Tel.: +44 (0) 20 3219 8806
For more information on Adveq: www.adveq.com
Next Wave Partners
Tel.: +44 (0) 203 005 7544
Founded in 1997, Adveq is a leading investor in private equity and real asset funds globally. To date, Adveq has invested in over 400 private equity funds and generated consistent returns throughout economic cycles by combining primaries, secondaries, and co-investments. Adveq’s client base comprises institutional investors such as pension funds, insurance companies, family offices, university endowments and other financial institutions located in Europe, North America and the Asia-Pacific region. Many investors are repeat, long-term clients with whom the firm has developed a role as a trusted partner for private market investing. Adveq has offices in Zurich, Frankfurt, London, New York, Beijing, Shanghai, and Hong Kong, as well as an agent relationship in Sydney.
About the LPFA
The London Pensions Fund Authority (LPFA) administers a £4.6bn pension fund providing Local Government Pension Scheme benefits to almost 20,000 employees of 370 charities, not for profit, private sector and local government employers and around 40,000 pensioners, many of whom used to work for the Greater London Council and the Inner London Education Authority. As well as administering its own fund LPFA provides a comprehensive range of pension services from full administration and pensions payroll to staff placement, data cleanse projects, pension websites and benefit statements as well as running a national LGPS training programme, looking after the pension benefits for around 250,000 individuals.
About Next Wave Partners
Next Wave Partners is a UK-based private equity fund manager focused on investing transformational growth capital. Next Wave was founded in 2002, raised its first external fund in 2007, and now has funds under management of £67 million. The firm is actively targeting new investments of between £2 million and £15 million and is focused on investing in fast growing, established businesses with strong positions in developing markets and clearly identifiable growth opportunities. Next Wave target companies in the business and consumer services sectors.
About Secured Mail
Secured Mail was established as a licensed postal operator in 2006 by managing director Mark Bigley. It has quickly grown to be the number three player in the wholesale Downstream Access (DSA) marketplace. With DSA, Secured Mail accesses Royal Mail’s Mail Centre network nationwide by collecting customers’ mail direct from the production facility before transporting it back to our own hubs. It is then sorted into mail centre order and delivered nationwide using our own fleet of vehicles. Royal Mail is contracted by Secured Mail to deliver this mail through the letterbox the day after receipt: ‘the Final Mile’. Today, Secured Mail’s client base includes Amazon, Domino’s Pizza and British Gas owner Centrica.