Private equity secondary firms Headway Capital Partners and Committed Advisors have backed the spin-out of a portfolio of companies from Loudwater Trust, which is to de-list from Aim following the appointment of a liquidator.

London-based Headway, which was founded eight years ago by a team of executives from Coller Capital, and fledgling French secondaries investor Committed Advisors, will act as investors in a new private equity fund, which will continue to be managed by Loudwater Investment Partners.