Private Advisors Scraps European Fundraising Effort
Private Advisors is waving the white flag on its attempt to expand its private equity funds-of-funds business outside of North America, in yet another sign that investor appetite for the asset class remains muted. Since the beginning of the year, the U.S.-based firm has seen three of its four-strong London-based team resign. This follows the decision to discontinue fundraising for both European and global funds of funds. The firm did not disclose a target amount on either of the vehicles. Private Advisors opened its London office in 2008 and hired a team to run the global and European business. Matthew Baker, Jennifer Buckley and Rickard Fischerstrom were hired as managing directors that year, and the team was led by Jens Bisgaard-Frantzen, former CEO and managing partner
