Former Asda ceo launches buyout fund

Former Asda chairman Archie Norman has teamed up with retail consultant Bradley Palmer to launch a £1 billion buyout fund targeting a range of businesses, including retailers. The fund, called Aurigo, is expected to be launched in a couple of weeks and is already believed to have acquisitions in mind. According to sources, Norman has held tentative discussions with a mid-sized retailer. Norman said he was "not really at the stage" of talking to potential targets. "I am not in a position to say anything at the moment," he said.