U.K. private equity firm ISIS Equity Partners is changing its name because of world events.
In an announcement from the company last week, Wol Kolade, managing partner, said his firm is “no longer prepared to share (its name) with a terrorist organization.”
The Islamic State of Iraq and Syria, known as ISIS, has been the focus of worldwide furor over its terrorist activities.
Mr. Kolade said in the announcement: “Given ongoing events in Syria and Iraq, it will come as no surprise to you to learn that we have decided to change our name.”
“We will hopefully be in a position to unveil our new brand in the coming weeks,” Mr. Kolade said. “However, it is very much business as usual as far as we are concerned. Even though the name above the door will change, we remain focused and committed to invest in and support high-growth U.K. companies run by entrepreneurial management teams.”
The soon-to-be-former ISIS Equity Partners joins other companies in rebranding, including a mobile wallet smartphone app previously called Isis Wallet and now called Softcard, due to the strong association that the name now has with the terrorist organization.