SWITZERLAND - Fund of funds manager of private equity investments Adveq has signalled its confidence in the private equity market.

The Zurich-based firm says it has made a series of management appointments which signal its optimism about the outlook for the private equity investment market.

“Especially now that the technology bubble has burst, private equity will continue to be one of the most important driving forces in the economy,” says managing director Bruno Raschle. “Private_equity will play a crucial role in the establishment of new companies and securing pension funds.”

It has hired former Zurcher Kantonalbank executive Daniel Lenz as its new chief operating officer. He joined the firm on April 1. Former Swiss Re executive Ivan Popovic is to join in July as head of investment risk management, taking over from Rainer Ender, who has become head of investment process management and vice president.

The firm has 25 staff and has one billion dollars under management; 90% of its investors are institutions.