Former Chancellor of the Exchequer, The Rt Hon Lord Norman Lamont, has been appointed as an advisor to the recently launched turnaround fund, the Eternitas Investment Fund Limited Partnership
Lord Lamont is the first member to be appointed to the Fund’s independent Credit Committee. The Committee will appraise investment opportunities and oversee the activities of the Eternitas fund management team.
Commenting on his first appointment to a turnaround fund, Lord Lamont said: “During these difficult times, it is important to maintain the flow of investment to businesses.”
“A fund like this can play a valuable role in saving vulnerable businesses and jobs. Of the 4,941 businesses that failed in the first quarter of this year, undoubtedly some could have continued to trade with the support of turnaround initiatives and revised management plans.”