Multi-billion dollar investment firm
CEO Charles Froland confirmed the new fund in an email, but declined to comment on its size or any other details, citing a “quiet period.”
It is unclear what relation, if any, the new fund has to a $650 million venture fund of funds that the Greenwich, Conn.-based firm raised in 2006 and disclosed in regulatory filings.
Venture is a small part of Performance Equity’s overall activities. The firm invests both directly, backing companies with tens of millions of dollars, and indirectly through a fund of funds, which may invest up to $100 million in any given fund. The firm also invests in buyout funds and other types of private equity.
Performance Equity was founded during the summer of 2005 as a partnership between
Information on the firm’s direct investments is scarce. The firm helped urologic drug company
In terms of its fund of funds investments, Performance Equity was one of the initial investors in
It also backed