Atlanta Life Financial Group has shut down fundraising for the Atlanta Life Venture Fund as a result of the financial market crisis.
Egbert Perry, chairman of the Atlanta Life board of directors, said in a statement the “volatility” of the private equity market had made them “rethink” their strategy.
The early to growth stage private equity fund, the firm’s first, was launched in 2007 to invest in Southeast US companies, particularly in the Atlanta area, providing goods and services to Fortune 1000 companies.
The fund was sponsored by investment bank and brokerage firm Jackson Securities, a subsidiary of financial services company Atlanta Life.
Atlanta Life’s investment management arm has four equity-focused investment funds. The group is the equity advisor for the Illinois State Universities Retirement System.