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Warren Buffett's protégée strikes out with London stock market listing

Michael Bow
Patient: American investor Warren Buffett (Picture: Bill Pugliano/Getty Images): Bill Pugliano/Getty Images

Warren Buffett’s protégée Tracy Britt Cool joined the board of a new $340m ((£258 million) acquisitions vehicle floating in London on Thursday.

Britt Cool, 35, will sit on the board of a venture led by US private-equity veteran Will Thorndike of Housatonic Partners and aerospace chief Nicholas Howley from TransDigm. They have launched EverArc, a shell company listing on the main market of the London Stock Exchange.

Britt Cool, raised on a farm in Kansas and educated at Harvard, recently announced plans to leave Buffett’s Berkshire Hathaway to pursue her own deals.

She was hired by Buffett when she was 25 and sits on the board of ketchup maker Kraft Heinz.

The EverArc listing was hoping to raise $300 million but demand led the offer to be increased.

The founders will plough in $15 million of their own cash and the other $325 million has come from institutional investors. Shares start trading December 17.

It is the largest listing of a special purpose acquisition vehicle in London in three years.

The deal was led by Morgan Stanley and UBS.