Managers of engineering outfits eager to buy the businesses they run for other people, owners eager to snap up rivals, or a mix of both eager to expand into Europe, are among clients targeted by equity specialist Schroder Ventures (SV) for its $1bn (£620m) European `buyout’ fund.
More than 30 professional investors – half of them US funds – have subscribed the money and SV is set to invest it in equity stakes in `a wide spectrum of European business ventures’.
SV is one of the City’s biggest international private equity specialists and has experience in backing engineering outfits, among them Sheffield Forgemasters, Roxboro, and Servomex.
Support is via equity investment – SV does not make loans – and the minimum is £10m. `The greater the risk, the greater the stake we take,’ said SV director Peter Smitham.