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City grandee Lord Spencer’s investment empire is poised for a resurgence

City grandee Lord Spencer’s investment empire is poised for a resurgence

City grandfather Lord Spencer’s investment empire is poised for a resurgence.

Trading magnate Spencer, who took office in the House of Lords last month, saw a total loss of £ 12 million on his investment vehicle IPGL Holdings in the year to March 31, 2020.

That followed a profit of £ 88.8 million last year, aided by the sale of its stake in the NEX exchange for £ 91 million.

Support: Conservative Party donor and ex-Tory treasurer made £ 1.4 million in political donations

Support: Conservative Party donor and ex-Tory treasurer made £ 1.4 million in political donations

The value of its assets was flat at just over £ 1 billion, but it made £ 13 million in charitable donations. The Conservative Party donor and ex-Tory treasurer also made £ 1.4 million in political donations.

However, it is believed that Spencer has seen the value of several significant investments soar since then – including City broker Numis, who advised dozens of companies on emergency fundraisers, and trading platform AJ Bell.

The 65-year-old, who has turned to Angel Investing since NEX’s sale to Chicago’s CME for £ 3.9 billion in 2018, is also said to have made £ 50 million by merging Singapore Life with Aviva’s Singaporean operations and backing for the combined group.

Spencer, whose son Thomas joined the IPGL board last year, also supports the growing online shopping company Klarna; English sparkling winemaker Chapel Down; and Elvie, inventor of the first silent portable breast pump.

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