Standard Life Investments is launching a private equity fund of funds investing in a mix of European...
Standard Life Investments is launching a private equity fund of funds investing in a mix of European private equity funds and direct investments.
The fund, European Strategic Partners II (ESP II), is looking to raise about e1bn and will be managed by Standard Life Investments Private Equity.
ESP II is the successor fund to European Strategic Partners, a private equity fund of funds, which raised around e868m.
Investors in ESP II will have the choice of investing in either a partnership made up of private equity funds or one made up of 70% in private equity funds and 30% in direct investment opportunities.
ESP II will look to invest in private equity funds which target buyouts and development and expansion capital for transactions valued between e50m and e400m.
Jonny Maxwell, chief executive of Standard Life Investments Private Equity, said: 'ESP II is designed to provide investors with the opportunity to invest with a selection of the premier European private equity managers in Europe.
'We believe exceptional opportunities exist for investment in Europe today. In the past year, we have seen a correction in prices which we believe creates compelling long term investment opportunities for our clients.
'We continue to believe that the European corporate buyout market in the e50m to e400m transaction size offers the greatest potential for capital appreciation in the years ahead.'
£92bn transferred since 2015
Achievements, charity work and other happy snippets
Since first announcement