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Changes to L1 board and major charity initiative

As this terrible war continues to ravage Ukraine and its people, the board of LetterOne is taking all action necessary to protect the 120,000 jobs LetterOne’s investments support and to help people in desperate need in Ukraine. Mikhail Fridman and Petr Aven’s shareholdings are frozen indefinitely and they cannot receive dividends or any other financial […]

Statement by Mervyn Davies, Chairman and Jonathan Muir, Chief Executive LetterOne

Statement by Mervyn Davies, Chairman and Jonathan Muir, Chief Executive LetterOne Following the imposition of EU Sanctions, Mikhail Fridman and Petr Aven have stepped down from the LetterOne board. As a result, they will no longer have any involvement with or influence over the business or its investments. They will not receive dividends, communications or […]

Mikhail Fridman’s letter on war in Ukraine

  As reported widely in the media, on Friday Mikhail wrote to all LetterOne staff expressing his deep sadness at the war in Ukraine and his desire for the bloodshed to stop. This is a copy of the note. Dear Colleagues, I wanted to write to you after what has been an incredibly difficult few […]

L1 Energy invests in H2scan

L1 Energy has invested $50m in H2scan, a world leader in providing hydrogen sensors for electricity utilities and industrial markets. Our investment will underpin the company’s rapid expansion. H2scan’s innovative hydrogen sensing products, made in the USA, are key to the reliability of electricity transformers as well as serving a widespread of applications in the […]

LetterOne commits £1million over two years to support the Centre for Entrepreneurs

LetterOne commits £1million over two years to support the Centre for Entrepreneurs Funding supports new research efforts and fosters new generation of founders LetterOne, the long-term investment group, is committing £1million over two years to support the Centre for Entrepreneurs (CFE), the UK’s leading entrepreneurship foundation which aims to make Britain more entrepreneurial. The funding […]

LetterOne invests in recycling pioneer Plastic Energy

LetterOne invests  in recycling pioneer Plastic Energy LetterOne, an entrepreneurial, long-term investor in sectors that deliver financial and social value, is investing to accelerate the growth of Plastic Energy, the award-winning pioneer in the chemical recycling of plastic waste. Headquartered in the UK,  Plastic Energy’s vision is to create a circular economy in plastic by […]

L1 Health and Blantyre Capital acquire Remedica and Sun Wave Pharma

L1 Health has jointly acquired two European pharmaceutical companies in partnership with investment firm Blantyre Capital. On October 4th, shareholders in Johannesburg-listed Ascendis Health approved a restructuring plan under which senior debt holders L1 Health and Blantyre Capital exchanged outstanding debt for assets including Remedica and Sun Wave Pharma. The transaction closed on October 21st. […]

LetterOne host roundtable at Bloomberg Invest Global

  Long term investing is fundamental to building back better post-pandemic, yet short termism is too often still holding back growth. Lord Davies of Abersoch CBE, Non-Executive Chairman, LetterOne and Stephanie Flanders at Bloomberg Invest Global host a roundtable on the benefits and challenges of long term investing. Participants include Dr. Matthew Agarwala, Economist, Bennett […]

How much has the shutdown shifted global economics?

  Full monetisation is now the rule rather than the exception Stefano Quadrio Curzio In last year’s review, I observed that even before the COVID-19 outbreak hit western economies, central banks had embarked on a course of full debt monetisation, by buying bonds issued by their respective governments. The level of debts and deficits was […]

2020 Year in review – L1 Health

  Patient capital With operator mindset With over $3bn in evergreen capital at its disposal, L1 Health has the ability to underwrite hold periods longer than a typical private equity fund. This allows it to focus on platforms that take time to build and to invest throughout economic cycles. In October 2019, L1 Health acquired […]