International Cazenove Enters Private Equity Game –

Cazenove & Co., one of the few remaining independent securities firms in the U.K., has branched out into private equity investment under the leadership of Tod Bensen. Bensen has been with Cazenove for 14 years and was most recently the partner in charge of the firm’s international syndication team. Cazenove Private Equity, as the new operation will be known, is investing from its first fund Cazenove New Europe Access Fund which will be capped at GBP250 million.

Cazenove New Europe Access Fund is targeting technology, media, telecommunications and Internet investments in the second and third round funding stages.

For the time being Bensen, who will be chief executive of the new operation housed in Cazenove’s London offices, is staffing his operation with internal staff as yet unnamed but external hires are expected to follow.

Cazenove Private Equity will draw on its parent’s considerable resources, which currently include clients that account for approximately half of the FTSE 100 index and around a third of the FTSE 250 companies. Cazenove has distributed 200 U.K. domestic and 300 international equity issues with a combined value of around GBP180 billion over the last five years. And Cazenove Fund Management manages around GBP13 billion of client funds for pension funds, charities and so forth.