BoI, Paul Capital Establish PE Fund of Funds

Jun 23 2006 | 7:30pm ET

Bank of Ireland Group and Paul Capital Partners have established a joint venture that will provide private equity funds-of-funds products and services to institutional investors. The joint venture will be called Paul Capital Top Tier Investments.

The joint venture will consist of Paul Capital's existing funds-of-funds business, including personnel, investment resources and facilities. Paul Capital will own 35% of the firm, while Bank of Ireland Group will pay $25 million for a 50% share of the company, which can be increased to 70% no earlier than 2008. Bank of Ireland will also pay $5 million in respect of interests in existing funds-of-funds.  Key executives will own the remaining equity.

"One of the exciting aspects of the new partnership is that it will provide us with greater resources and enhanced distribution to expand our private equity funds-of-funds offerings in sectors like middle-market buyout, emerging markets, and co-investment vehicles across the private equity asset class, as well as other offerings" said David York, managing director and ceo of Paul Capital Top Tier Investments.

The new venture will be led by York and Paul Capital founder Philip Paul, who will serve as chairman. 


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...