Kaupthing Bank is committing £200
million to its first third party private equity fund, Kaupthing
Capital Partners II ("KCPII"), and has raised an additional £300 million
from third party investors. Kaupthing will therefore own
40% of the total £500 million in the fund.
third party investors are primarily pension funds, investment companies and
high net worth clients. Kaupthing initially intended
to raise between £100 and £200
million from investors but due to excess demand the amount was increased to £300
million. Kaupthing plans to close the fund in the next
unlisted investments made by the bank will be held by KCPII, which will be
managed by Kaupthing Principal Investments, the in-house
private equity team. Assets in private
equity owned by the bank at the end of last year will not be held by KCPII.
establishment of the fund will increase transparency and provide clarity and
discipline over Kaupthing Bank’s private equity
investment strategy. The fund will also enable the Bank to take part in larger
and more numerous projects and increase activity within other business segments
of the Bank.
For further information please contact:
Jónas Sigurgeirsson, Chief
Communication Officer, tel +354 444 6112.
David Sherratt, Head of Kaupthing
tel: +44 203 205 5540.