Electra Private Equity sets aside $100 million for staff payouts

Electra Private Equity's (ELTA.L) 20 investment team staff are each set to receive an average payout of about 3 million pounds ($4.85 million) following a year of gains for its portfolio. After years of tough market conditions private equity firms have enjoyed a better 2013, helped by a rally in equity valuations, strong demand for the debt they use to finance their deals and a recovery in the market for public listings. It set aside 63 million pounds ($102 million) in total for staff after a 26 percent rise - 222 million pounds in gains - in the value of its investments in the 12 months to the end of September. Private equity managers raise money to buy companies, try to improve their performance and then hope to sell them at a profit.



via Business News - Yahoo Finance http://finance.yahoo.com/news/electra-private-equity-sets-aside-174102318.html