Accountant Tenon to launch fund management business

Accountancy firm Tenon is launching a fund management business, with its first product focusing on di...

Accountancy firm Tenon is launching a fund management business, with its first product focusing on distressed companies with recovery potential. The Aim-listed firm has set up Tenon Capital Management with the intention to raise £15m-20m for T-Fund I. Matthew Bowker, a member of the group’s investment committee, said Tenon can draw on its team of 350 consultants providing recovery advice across the country. They currently advise lenders and stakeholders in distressed trading companies but the fund will look to buy out the lenders and help re-capitalise the business. It will provide t...