February 2, 2010 / 11:24 AM / 8 years ago

Galileo Capital unit to advise gay services firms

HONG KONG, Feb 2 (Reuters) - 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 statement.

“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 Goldman Sachs.

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 Lalor)

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