FINANCE NEWS: Schroders sets up a second charity investment vehicle

Investment manager Schroders has launched a second private equity fund of funds.

The Schroder Private Equity Fund of Funds II is aimed at small and large institutional investors such as charities. The minimum investment will be 125,000 euros.

Private Equity involves investing in companies that are not listed on the stock exchange, although the fund itself will apply for listing on the Dublin Stock Exchange.

Andrew Sykes, head of alternative investments at Schroders, said: "This is a flexible private equity fund of funds product, designed to meet demand from a wide range of investors following the launch of our first Private Equity fund of funds last year."

In 2002, Baring Asset Management also launched a private equity fund aimed at charity investors.

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