UK - HVB International Markets and Frank Russell are joining forces to create a series of private equity fund of funds for institutional and private investors in Germany and Austria. The first products will be the European, global and US-only private equity funds of funds, with a primary focus on venture capital and buyout funds. The funds will draw on Russell's global private equity manager research team and HVB's structuring and distribution capabilities.
Axel Gruber from HypoVereinsbank and Hal Strong from Russell will be directors of the Munich-based company. “For our investors, the fund of funds structure will reduce the risk of this asset class...
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