Investors in Better Capital set to receive £14 million from Jon Moulton

Better Capital, the private equity firm founded by Jon Moulton, today revealed plans to return £14.1 million to shareholders.

The London-listed vehicle said the money would be handed to investors in the £210 million fund it raised for 2009, which includes Reader’s Digest in its portfolio. Better Capital ditched parts of Reader’s Digest this month but held onto its magazine business. The company said it continued to see “attractive investment opportunities” but did not give an update on its net asset value. This will be measured at the end of March.

“Deal flow is tracking at a rate consistent with previous periods and with a marked increase in opportunities originating from Continental Europe,” it added in a statement.

Better Capital counts double glazing group Everest and retailer Jaeger among the investments in its £169.9 million 2012 fund.

The company said it expected Jaeger, which it bought out of administration last year, to post a small loss for that year on the back of falling sales. However, it insisted that the retailer’s turnaround programme was on course.

On the wider retail market it added: “A number of high-profile retail opportunities seen in the past have resurfaced, underlining the continued difficulties on the High Street and perhaps signalling the unwillingness of lending institutions and other key stakeholders to prolong the lifeline previously offered.”