Dawnay Day, the UK corporate and property finance group, has launched a division to invest in private equity, headed by Luke Bridgeman, an ex-Morgan Grenfell Private Equity (MGPE) director.

Bridgeman said the new principal investments division is looking for opportunities in private and public companies valued between £10m (€14.4m) and £200m. Investments will be made from the group's balance sheet.