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Amanda Wakeley bought by former Agilo investor

Amanda Wakeley, the premium womenswear label, has been bought by Jason Granite, a former investor in distressed assets fund Agilo, which holds stakes in Envy and Faith.

According to TheSunday Times newspaper bought Amanda Wakeley through a new vehicle called Arvoco from Saudi billionaire Walid Juffali.

Juffali bought Amanda Wakeley from fashion supplier Richard Caring in 2005.

It is unclear what Granite plans to do with the business, in which founder Amanda Wakeley is a minority shareholder and creative director.

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