Design guru Michael Peters, the man who redesigned the UK Conservative Party logo in the 1980s, has gathered £10 million (€11 million; $14 million) for a private equity fund with a bit of swagger. Creative Capital Ventures only invests in business for which Peters is providing brand consultancy. If a company can't afford Peters's fees, they can sell him a slice of equity. Peters then works his magic, and reaps the rewards when the company grows. His first investment? Russia's Ivan the Terrible vodka. Perhaps having the words “terrible” and “vodka” next to each other on the label may need some careful handling…
QUOTABLES
“I analogise it to sex. You realise there were certain things you shouldn't do, but the urge is there and you can't resist.”
“The big public-to-privates are gone in the way of the dodo.”
“Jon Asgeir was one of the few individuals who really tried to replicate the private equity model. He had joint ventures, he had shares, he had businesses, he had it all.”
“The bad news is that fundraising in 2009 will be much more challenging. Western institutional investors are grappling with their own asset allocation issues, and the globalization of the financial crisis will impact expansion plans into new markets.”