The 14 Words

Saturday, 12 October 2013

Hedge fund investing in Royal Mail employs George Osborne's friend

A hedge fund that employs one of George Osborne's closest friends and best man is among the City institutions set to make millions from the privatisation of Royal Mail.

More than 40,000 people who tried to buy shares in the privatisation have received nothing at all. By contrast City institutions were able to buy two thirds of the newly privatised company.

Lansdowne Partners, one of the world's biggest hedge funds, has invested in Royal Mail and is said to have a £50million stake in the company. After a day of frantic trading the value of its shares has risen by £18million.

Peter Davies, Lansdowne's co-head of developed markets strategy and a member of the hedge fund's management committee, has been friends with the Chancellor since they met at Oxford University.

Mr Osborne chose Mr Davies to be his best man when he married Frances Howell in 1998 at St Margaret's Church, next to Westminster Abbey.

The Labour Party highlighted the connection between the two men as part of its criticism of the Royal Mail sell-off.

1 comment:

  1. A close look at those now owning shares in the former, much loved, and respected business, will see a boringly obvious strategy here. It is the same tribe that has carpet-bagged Greek assets.

    SIRS motto is 'Via Determination', and the snake's head will have to be parted from its body soon.