PAUL Craig, manager of New Star's ‘strategic' series of funds of investment trusts, is to run a new £90m private equity vehicle.
The New Star Private Equity investment trust will invest in private equity funds operating in the European and UK mid market buyout sector. The planned launch follows New Star’s acquisition of two private equity trusts, August Equity and Rutland, which will be merged to create the new vehicle. Craig has invested in private equity trusts for more than three years and according to New Star has delivered a compounded return of 21.7pc from September 1 2003 to February 28 this year. The trust’s initial portfolio will comprise holdings from the August and Rutland vehicles and investmen...
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