London stockbroker Cazenove is poised to move into European Private Equity, according to reports. Run as a separate business division and led by Tod Benson, a partner, Cazenove Private Equity will concentrate on opportunities in technology, media and telecoms.
Cazenove is currently in the process of raising £250m for the Cazenove New Europe Access Fund. After a first closing, over £200m are secured. The second closing is expected in about a month.
The new division will offer second and third-round financing for unquoted UK and European companies with the ambition to play a leading role within their industries. A team of dedicated investment executives will seek to take minority stakes of up to 20 per cent in growing TMT businesses with a view to deliver superior returns to the fund’s limited partners.