UK pension funds are beginning to contribute more to UK private equity, according to the British Venture Capital Association's (BVCA) investment activity report.
The BVCA report said the amount invested by UK pension funds increased by 87% over 1999 levels (£437m) to £817m. According to the association, this confirms that a number of the larger UK funds are beginning to recognise the opportunity that private equity presents and to increase their allocations accordingly.
BVCA chairman David Thorp said: “The UK private equity industry continues to grow and flourish. We are delighted to see UK pension funds increase their allocation to UK private equity and look forward to working with them more closely in the future.”
The report also found that fund of funds now represent 14% of the total amount raised.
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