Hermes hires Cubitt for Private Equity arm

Fund management company Hermes has appointed Cubitt Consulting as PR adviser to promote its private equity subsidiary.

It is understood that Cubitt founder and managing director Simon Brocklebank-Fowler will be overseeing the account for the subsidiary, which launched earlier this year and is called Hermes Private Equity.

The agency beat three other PR firms to win the contract. The agreement will take effect next month and will run on a continuous basis.

Brocklebank-Fowler will report to Rod Selkirk, who was appointed chief executive of Hermes Private Equity last year to set up a business plan.

From September, Cubitt will be working on establishing the fund’s brand and raising the profile of its private equity involvement among potential investors.

Grandfield, which did not bid for the private equity account, is retained as Hermes’s adviser for all other parts of the company’s business.

Originally set up by Hermes Investment Management, Hermes Private Equity parcels together the existing private equity investment of the Hermes group with new private equity investments.

The fund originally had £200m from the BT pension fund, one of the group’s main clients. With more than £1bn to invest, the fund is targeting companies worth between £100m and £300m.

In April Cubitt announced that it had resigned from its lucrative role as PR adviser to FTSE 100 beer company SABMiller. A Cubitt statement said the resignation reflected ‘policy disagreements over international

media relations activity’ (PRWeek, 4 April).

Brocklebank-Fowler took over as chairman of the IPR Corporate and Financial Group last month. He said his aims for the group were to focus on investor relations and improve links with other investor relations bodies (PRWeek, 28 May).

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