SLI announces private equity fund of funds

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 inve...