New private equity and joint venture at Kleinwort

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UK - A new private equity fund is being launched by Kleinwort Capital, a joint venture set up by investment trust Kleinwort Development Fund and Dresdner Kleinwort Capital, the private equity arm of Dresdner Bank.

The newly formed investment manager Kleinwort Capital will have transferred into it the current activities of another company Dresdner Kleinwort Benson Private Equity and its management team. With Richard Green and Andrew Hartley becoming joint managing directors of the new company. The team will have equity participation in the company.

The new manager’s first fund launch is the Kleinwort Capital partners IV, which already has commitments of £50m each from Kleinwort Development Fund and from Dresdner. “It is anticipated that the fund’s total size will exceed £200m,” says the group.

The fund will invest mainly in UK mid-market private equity transactions in the technology, healthcare services media as well as specialist manufacturing sectors. The target market is new and existing investors.
The name of Kleinwort Development Fund is to be changed to Kleinwort Capital Trust at the end of October.

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