UK Firm Invests in Employee Ownership

Capital for Colleagues, a publicly traded investment fund in the United Kingdom that invests in employee-owned businesses, reported that its year-end net asset value (NAV) per share rose 5% in the four months following its August initial public offering. Investments range from $75,000 to $600,000 (£50,000 to £400,000) in businesses such as accounting firms, construction materials, retail, and IT services. The fund hold both notes and equity. It targets privately held companies, though its $5.2 million (£3.4 million) net assets are roughly half in publicly traded companies and half in privately held companies. Chief executive John Eckersley said: "Employee ownership continues to gain distinction as a proven, successful business model."