CAM Private Equity, a European private equity fund of funds manager, has established a Swiss subsidiary in Zurich. It has appointed Benedickt Brenninkmeijer to manage the business.
Brenninkmeijer was chief executive of shaPE Capital, a Zurich-listed private equity fund of funds manager, between 2002 and 2005. Brenninkmeijer’s family, which made its money from the C&A retail chain, has invested heavily in private equity, but it is not one of CAM’s backers.
Benedickt Brenninkmeijer said: “CAM is the leading private equity fund of funds in Germany – and the biggest fund of funds in Europe with growth potential. I thought this would be a good platform from which to be entrepreneurial and dynamic.”
Dr Wickenkamp, co-founder of CAM, said: “By establishing a Swiss subsidiary and welcoming Brenninkmeijer to the management team, CAM has taken its next crucial step on the path towards internationalisation, thus underscoring its expansion goals.”
CAM has €2.5 billion under management, with offices in Munich, Amsterdam, Copenhagen, Zurich and the US.
The firm recently teamed up with New York-based Newmarket Partners to launch a fund of funds for investments in emerging markets. The fund has a target of about $400 million (€298 million) with a hard cap of $500 million. It will hold a first close in May 2008 and is aiming for a final close in May 2009.