The management of Austrian private equity house Invest Equity has announced a change in its ownership structure. The four partners now hold 70% of the shares of the management company with the balance being held by Investkredit Bank AG, the listed Austrian specialist Bank for corporate loans, real estate and public finance, which was the sponsor in Invest Equity’s first fund.
Martin Prohazka, managing partner of Invest Equity, said: “With the clear majority held by the active partners INVEST EQUITY now conforms to the best practice for European private equity firms also in this regard. On the other hand, Investkredit Bank’s participation is a token for its ongoing commitment as an investor and strategic partner in addition to its initial sponsor investment in INVEST EQUITY’s latest fund Greater Europe Fund (GEF)”. GEF held the first closing of this fund at the end of September 2004 and hopes for a final close in summer 2005.