HONG KONG Feb 2 London and Hong Kong-based
Galileo Capital Management said on Tuesday it has launched an
advisory and investment management unit targeted at companies
that provide products and services to the gay consumer market.
Galileo did not say when its new unit, LGBT Capital, would
launch the fund.
As gay rights continue to evolve, companies servicing the
gay community will require specialist advice as they look to
raise capital, merge and acquire, LGBT Capital said in a
"A LGBT (lesbian, gay, bisexual and transgender) oriented
resort was up for sale recently but despite many parties
expressing interest, sufficient capital could not be raised by
any one company or investor on their own," said Paul Thompson,
principal at LGBT Capital.
Thomson has worked with U.S. fund firms Fidelity and
Prudential and in the international investment funds business of
LGBT Capital's other principal Anders Jacobsen, who founded
Galileo Consulting in 2004, was an investment banker at Chase
Manhattan and Bankers Trust.
(Reporting by Parvathy Ullatil; Editing by Don Durfee and Dan