Tim Horlick, investment banker who won a Covid contract for PPE masks that were unusable
Tim Horlick, who has died aged 65, was an investment banker who secured, through the controversial “VIP lane”, a huge supply contract for Covid PPE masks which turned out to be unfit for use by frontline healthcare workers. Horlick’s company, Ayanda Capital, is a private equity fund (with a parent company in the tax haven of Mauritius) which focuses on “high-growth sectors such as fintech, digital platforms, energy and natural resources”, aiming to generate superior returns “while positively impacting society”. His own career had been spent entirely in the financial sphere until the opportunity arose in April 2020 to source 50 million high-protection “FFP2” masks and 150 million looser-fitting “IIR” masks from a Chinese company, Zhende Medical. The official who approved the order – processed in three weeks, with limited due diligence, amid frantic international competition to secure bulk PPE supplies – noted that “Ayanda was not a business which had any direct experience in the manufacture, supply or distribution of PPE… but that… did not unduly concern me.” The value of the contract was …









