Board Overview

Over 100 years of combined investment experience

Broadwell Capital Limited Board

Mr. Caspar Gilroy

Mr. Caspar Gilroy began his career at Invesco Asset Management as part of the global equities team managing institutional pension fund accounts. During this time, Mr. Gilroy was chosen to be part of a UK delegation taking part in the Open Russia Foundation’s Young Leaders Program. In 2006, Mr. Gilroy moved into the esoteric private equity area and led an acquisition of Minster Insurance Group (“Minster”) and became Chairman. He co-owned the business with JP Morgan. At the point of acquisition Minster had liabilities in excess of $650m and assets of approx. $750m. Minster was successfully exited in 2011. In 2008, Mr. Gilroy led the acquisition of Scottish Lion Insurance Company, became chairman and in 2010 successfully exited the business via a sale to Berkshire Hathaway’s National Indemnity Company (“NICO”). Other esoteric deals include the founding of Grafton Group Holdings and its A.M. Best A- rated re/insurance company, Grafton Europe in 2009 (exited in 2012).


Dame Alison Carnwath

Dame Alison Carnwath is currently chairman of the partnership board of the UK private equity firm Livingbridge, where she also sits on the investment committee. Dame Alison serves as a non-executive director of the FTSE 100 company, BP p.l.c. Dame Alison serves as a non-executive director of Zurich Insurance Group Limited, principally listed on the Swiss Stock Exchange and Paccar Inc. (a Fortune 500 company). Dame Alison is also a senior advisor to Evercore Partners and a supervisory board member and the audit committee chair of the chemicals company, BASF SE, principally listed in Frankfurt. Dame Alison worked in investment banking and corporate finance for 20 years before pursuing a portfolio career. During her banking career, she became the first female director of J. Henry Schroder Wagg & Co. Dame Alison has served as chairman of the FTSE 100 company, Land Securities and as a non-executive director of Friends Provident plc, Gallaher Group plc, Barclays plc and Man Group plc. Dame Alison is a trustee of The British Library Trust and undertakes a variety of mentoring activities in the UK and overseas. She was appointed a Dame in 2014 for her services to business and holds honorary doctorates from Exeter University and The University of Reading.


Mr. Julian Treger

Mr. Julian Treger co-founded and was joint Managing Director of the first activist fund in the UK, Active Value Advisors (“Active Value”), advising on over US$900m of funds over the 12 year period to 2004.  Active Value focused on undervalued companies in the public equity markets and achieved a gross IRR of 17.1% (unlevered) on 30 realised Active Value and 3rd party investments (outperformed FTSE mid-cap index by 500 basis points).  In 2005, Mr. Treger co-founded Audley Capital Advisors (“Audley”) which advises funds that combine hedge fund, activist and private equity strategies. Audley won Hedgeweek awards ‘best event driven hedge fund manager of 2010’ and was nominated for ‘fund manager of the year 2014’.  More recently he joined Anglo Pacific Group plc as Chief executive officer. Mr. Treger has sat on the board of a wide number of public and private companies and has worked with and invested with Caspar over many years.


Dr. Simon Thornton

Dr. Simon Thornton was born in Sheffield in 1964. After completing his PhD at Nottingham University, Dr. Thornton joined PKF in 1992 and qualified as a Chartered Accountant. He was appointed Audit Director in 1997 and was responsible for the audit of a wide range of Financial Services Businesses. Dr. Thornton was appointed as the managing director of the Praxis Group in 2002. Following a recent merger, he is Chief Executive Officer of PraxisIFM one of the largest independent financial services group based in the Channel Islands. Additionally, he is the director of a number of investment companies and several Channel Islands trading companies.


Mr. Howard Kagan

Mr. Howard Kagan is an Ernst & Young trained accountant with successful finance and operational control experience. Prior to joining Broadwell, Mr. Kagan gained considerable CFO/COO experience at Audley Capital, a $1 billion alternative investment manager. His role covered all areas of finance, administration, tax and legal across these products, which consisted of over 20 entities across multiple jurisdictions. More recently, Mr. Kagan has performed the same role at Fjord Capital Partners, a private equity investment manager focused on industrial resource efficiency.  Mr. Kagan holds a BBusSc in Finance from the University of Cape Town, South Africa, and is a ICAEW, ACA chartered accountant.

Broadwell Capital Limited Board Advisor

Associate Professor Mungo Wilson

Mungo Wilson is Associate Professor of Finance in the Department of Finance at Saïd Business School and an associate member of the Oxford Man Institute of Quantitative Finance, both in the University of Oxford. Mungo specialises in asset pricing and mutual funds. In particular, his work is centred on assessing how risk affects asset prices. Mungo also studies mutual funds and credit risk. Having studied PPE at the University of Oxford, Mungo initially trained as a solicitor and worked at Slaughter and May, before reading for an MSc in Economics from the London School of Economics and PhD in Economics from Harvard University. Before joining Saїd Business School in 2009, Mungo held positions as Assistant Professor in the Department of Finance at the Hong Kong University of Science & Technology, and as a Visiting Lecturer at the London School of Economics.