Peter Hargreaves is to pour £25m capital into a fund set up by former employee Stephen Yiu, two years after stepping down from the fund supermarket that bears his name.
Mr Hargreaves became a partner at Blue Whale Capital earlier this year, and is poised to make a £25m investment in the fund, according to reports.
Blue Whale is run by Stephen Yiu, who worked as an analyst at Hargreaves Lansdown before making his name as Tim Steer’s co-manager at Artemis and then New Star.
Mr Yiu is an experienced UK equity manager and the fund is expected to be based on this expertise, but will also invest internationally.
The venture is expected to go live in the third quarter of this year.
Mr Hargreaves, who founded Hargreaves Lansdown with partner Stephen Lansdown in 1981, stepped down from the board in April 2015.
At the time he said that he “will spend more time with my family and pursuing outside interests. I will, of course, remain in close touch as a major shareholder."
His son, Robert Hargreaves, is understood to be handling Blue Whale’s marketing.
rosie.murray-west@ft.com
