17th Feb 2009 10:25
Candover Investments plc in discussions to restructure 2008 Fund
Candover Investments plc announces that it has entered into discussions with the Limited Partners ("LPs") of the Candover 2008 Fund ("the Fund") with regard to a restructuring of the Fund, given the current economic and market backdrop. It is anticipated that the principal change will be a reduction in the projected size of the Fund, with Candover and a number of LPs taking the opportunity to reduce their commitments. In the case of Candover, this reduction is likely to be significant. Currently the Fund has commitments of € 3 billion, including €1 billion from Candover. The restructuring would also involve a revised investment strategy, in light of both a smaller Fund and the significant changes in the global economy in the last six months.
Candover will be announcing its results for the year ended 31st December, 2008 on 2nd March, 2009. It is anticipated that an update on the restructuring discussions in relation to the 2008 Fund will be given at that date.
Ends.Enquiries:Tulchan CommunicationsSusanna Voyle or Peter Hewer +44 20 7353 4200
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