GCP Asset
Backed Income Fund Limited
(the
"Company" and/or "GCP Asset Backed")
LEI
213800FBBZCQMP73A815
Board
Changes
20 May 2024
The Board of GCP Asset Backed, which
invests in asset backed loans, is pleased to announce the
appointment of Philip Braun as non-executive director of the
Company with effect from 20 May 2024.
Mr Braun, a Jersey resident, has
nearly 30 years of experience gained in audit, primarily with a
focus on financial services, alternative investment funds and the
regulated offshore industry. After qualifying as an accountant in
London, he spent nearly 10 years with PwC in both Jersey and
Sydney. Following which he spent the last 16 years as the lead
audit partner with BDO in Jersey, prior to his recent move to
provide independent directorship services. In addition to being the
head of audit locally, he also led the provision of business
advisory services, including corporate due diligence, restructuring
and liquidations.
Mr Braun has a BSc (Hons) in
Mathematics and Computer Science and is a Fellow of the Institute
of Chartered Accountants of England & Wales. Mr Braun also
serves on the board of directors of CVC Income & Growth
Limited, a company listed on the London Stock Exchange where he
chairs the audit committee and is a member of the board of the
International Stock Exchange Authority Limited, the Guernsey based
regulator of the international stock exchange, and sits on both its
risk and audit committees.
There is no information concerning
Mr Braun which is required to be disclosed pursuant to Listing Rule
9.6.13 R (2) to (6) inclusive and the Board considers him to be
independent on appointment per the AIC Code of Corporate
Governance.
At the same time, the Company also
announces that the terms of office of Mrs Joanna Dentskevich and Mr
Colin Huelin as Directors of the Company, both having served almost
nine years, came to an end with effect from 20 May 2024.
Mrs Dentskevich has served as Senior
Independent Director and as chair of the Risk Committee. The Board
has benefited from Mrs Dentskevich's significant experience in
financial markets, particularly in the area of risk since the
Company's inception. Her sound judgement and wise counsel have
regularly contributed to the Board's decision-making
process.
Mr Huelin has served as chair of the
Audit committee since the Company's IPO nearly nine years ago. He
has brought considerable financial experience to the Company. His
commitment to his role and his scrupulous analysis of all matters
put before him have served the Company well.
Alex Ohlsson, Chairman, commented,
"We are delighted to welcome Philip to the Board. He brings a
wealth of risk and audit knowledge to the Company. His experience
is relevant and complements the skillsets of the existing
Directors, thereby strengthening the Board as we set forth the
implementation of our new strategy. The Board also would like to
extend their thanks to Joanna and Colin for their significant
contribution to the Company throughout their terms of office. We
wish them well in their future endeavours."
For further information, please
contact:
GCP
Asset Backed Income Fund Limited
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+44 (0)15 3482 2365
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Alex Ohlsson (Chairman)
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Gravis Capital Management Ltd
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+44 (0)20 3405 8500
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Philip Kent
Cameron Gardner
Anthony Curl
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Barclays Bank plc
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+44 (0)20 7623 2323
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Dion Di Miceli
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Stuart Muress
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James Atkinson
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Buchanan/Quill
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+44 (0)20 7466 5000
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Helen Tarbet
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Sarah Gibbons-Cook
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Henry Wilson
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Notes to editors
GCP Asset Backed is a closed ended
investment company traded on the Main Market of the London Stock
Exchange. Its investment objective is to generate attractive
risk-adjusted returns primarily through regular, growing
distributions and modest capital appreciation over the long
term.
The Company seeks to meet its
investment objective by making investments in a diversified
portfolio of predominantly UK based asset back loans which have
contracted, predictable medium to long term cash flows and/or
physical assets.