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Capvent plans expansion

Fund-of-funds specialist Capvent is extending its reach with the opening of a London office. A location has not yet been fixed, but it is hoped an office will be operational by next month, as the firm gets FSA approval. The new office will be staffed by five professionals. Varun Sood, founder and managing general partner of the firm, which is based in Zurich, will be relocating to London.

The firm also plans to extend its reach to the US, where it already has a team on the ground in New York. Sood is responsible for sourcing, due diligence and structuring investments in private equity. He has 10 years’ combined experience in communications and technology investment banking, mezzanine finance, buyout financing and private equity.

The expansion ties in with the recent launch of Capvent’s second fund-of-funds, Capvent Global Private Equity II, which will invest in private equity funds no larger than $300 million. The team is looking to raise $400 million.