(Reuters) -Activist hedge fund Irenic Capital Management is trying to drum up interest in a take-private deal for Upper Crust owner SSP Group ( SSPPF ) after boosting its stake in the food-to-go operator, the Financial Times reported on Thursday.

Reuters could not immediately verify the report.

Irenic Capital Management declined to comment, while SSP Group ( SSPPF ) did not immediately respond to a Reuters' request for comment.

The New York-based hedge fund is encouraging private equity groups to launch takeover bids for the London-listed company, arguing that SSP could be valued at a 50% premium to its market value in a take-private deal, the newspaper reported, citing a pitch deck.

The fund points to SSP's predictable revenues, its capacity to grow in U.S. airports and its ability to generate capital through the sale of non-core assets, including its stake in a listed Indian joint venture, the report said. 

The fund has shared materials about the merits of a leveraged buyout with investment bankers and private capital firms in recent weeks, the report added.

SSP Group ( SSPPF ) is an operator of food and beverage outlets in travel locations, specialising in designing, creating, and operating a range of food and drink outlets in airports, train stations, and other travel hubs. 

Irenic owns roughly 3% of SSP's stock, the report said.