Standard Life dives into private equity FoFs

Known as the European Strategic Partners 2004 (ESP 2004), the first close of Euro250m is invested in a fund of funds vehicle which contains a mixture of West European private equity funds and direct investments. Investors in ESP 2004 will have the choice of participating in an investment exclusively made up of private equity funds, select a second fund consisting of at least 70% in private equity funds and 30% in direct co-investment opportunities, or do both. ESP 2004 will invest in private equity funds which target buyouts valued at between 50-400m euros, says Jonny Maxwell, chief e...