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2003 annual review of private equity and outlook 200413/07/2004. Source: SCM Strategic Capital Management. 
 2003 has shown an improvement in both the performance numbers and the fundamentals of the private equity industry in Europe and the US, according to SCM Strategic Capital Management. Asia has also shown some improvement, but LPs are still struggling to identify solid management teams in the region and the added risk that goes with Asian private equity has yet to be rewarded.
In Europe, performance numbers improved only slightly, but a ten-year analysis of IRRs confirms the relative outperformance of the European buy-out sector versus US buy-outs, and the dramatic underperformance of European venture capital versus US venture capital.
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Based in Switzerland, Strategic Capital Management is a gatekeeper for some of the major Swiss insurance companies and public and private pension funds. It manages CHF3bn in its private equity programmes and has around CHF100m in discretionary accounts for smaller Swiss investors. It invests across the private equity spectrum both in terms of stage and geography. The firm was set up in 1996 by Hepp and Benedikt Schurch, who had worked together at Morgan Stanley as head of Swiss institutional business and head of asset management respectively.
SCM Strategic Capital Management AG was established in 1996 as one of the first European advisors/ gatekeepers focused on institutional Private Equity and – since 2003 – on international Real Estate portfolios. Services include investment strategy, asset allocation, screening and due diligence of Private Equity and Real Estate funds as well as investment monitoring/controlling and reporting. The firm provides discretionary and non- discretionary advisory services to a number of large pension funds and insurance companies throughout
Europe that are seeking a partner that provides them with independent advice tailored to each client.
Representing substantial client assets of about USD 4 billion and a strong track record of its managed programs, SCM ranks among Europe’s leading providers of capital for Real Estate and Private Equity fundsand enjoys unsurpassed access to the world’s foremost managers in these areas.
Main office Dufourstrasse 20, 8702 Zollikon, Switzerland Incorporation February 1996 Professionals 12
Shareholders Management and Board of SCM Assets about USD 4 billion
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