Pru in talks for private equity management buy-out - papers 6th June

According to the paper, sources have said PPM Capital hopes to close the deal by the end of the year. PPM Capital has about £1.4bn of allocated funds under management to invest in private equity, and only last week the fund, which is run by managing director Neil MacDougall, acquired Azzuri Communications from rival 3i for £182m. It is not clear why PPM Capital's management, which invests in companies over a three- to five-year period, has now decided to opt for a buyout of the private equity division. Last year, Prudential segregated its private equity businesses to allow its direct inve...