Burns, Mairin
May 2003
Investment Dealers' Digest;5/12/2003, Vol. 69 Issue 19, p20
Trade Publication
This article presents information about developments in the private equity sector of the U.S. as of May 12, 2003. Pension and endowment funds ramped up their allocations to alternative investments in 2002 as an antidote to losses incurred on their domestic equity investments, according to a report from Greenwich Associates. The firm interviewed more than 1,000 of the largest corporate pension funds, endowments and foundations in the U.S. and found that, while investments in private equity leveled off in 2002, nearly 40 percent of all pension funds allocate to the asset class, as do 60 percent of endowments and foundations. Forstmann Little & Co. said in on SEC filing that it will sell around half of its shares in Yankee Candle Co. The New York-based buyout shop bought a 90 percent stake in the company in an April 1998 recapitalization that involved around 180 million dollars of Forstmann equity.Partners closed its debut fund at 216 million dollars, which it will invest in the medical device, biotechnology, pharmaceutical and related sectors.


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