Private equity boost for SLI

A Standard Life Investments product story

Edited by the Insidemoneytalk editorial team Aug 28, 2008

SL Capital Partners LLP (SLCP) today announced the 520m euro ($780m) fourth close of European Strategic Partners 2008 (ESP2008),

its latest private equity fund of funds.

The final close of ESP2008 is likely to take place in March 2009.

Total funds raised during 2008 stand at 670m euro ($1,005m), including two segregated mandates totalling 150m euro ($225m).

David Currie, Chief Executive of SLCP, said: "It is pleasing to note that despite a difficult fund raising environment due to the credit crunch and steep declines across nearly all asset classes, ESP2008, our 15th fund of funds product, has attracted interest from new investors, as well as receiving strong support from existing investors.

"Commitments have been received from North American, Asian, South American, European and UK clients.

We now have investors from 24 countries around the world.

As with previous ESP products, investors have the choice of participating in either a partnership consisting of at least 70% in private equity funds and 30% in direct co-investment opportunities, or a partnership that is 100% committed to private equity funds.

The scale of investor commitments to ESP 2008 and segregated mandates over the last 12 months is evidence that clients share our confidence that Europe continues to offer attractive private equity investment opportunities.

The pipeline of potential investors in both ESP 2008 and segregated mandates remains strong.

Total assets raised by SLCP from private equity investors now total 6.2bn euro ($9.3 bn).

Since the credit crunch began in August 2007, we are delighted that we have raised well over andeuro;1 billion ($1.5 billion).

We believe that our ever increasing number of clients shows that investors are attracted by our experienced team of private equity professionals who have generated an impressive track record based on strong investment processes and procedures.

ESP2008 invests in private equity funds which target buy-outs mainly valued between 100-1,500m euros.

SLCP believes these transactions, focused in Western Europe, present attractive opportunities for superior investment returns.".