Click here for printer friendly page

UK's Martin Currie strengthens private equity team, markets new fund

Edinburgh-based fund manager Martin Currie has announced the appointment of Paul Murray, previously a founding partner of Deutsche Bank Capital Partners, as managing director of its private equity team.

Murray's appointment comes as Martin Currie is marketing a new E300m fund, which will make direct investments as well as acting as a fund of funds. The fund will be a broadly diversified one, comprising venture capital, management buy-out, and mezzanine funds, with some sector-focused funds considered.

Murray has a strong background in direct investment, having spent 11 years at 3i as well as a stint at Deutsche Bank Capital Partners. At 3i he worked closely with Willie Watt, now CEO of Martin Currie.

‘I believe that we can build a private equity business of real scale within Martin Currie, adding a further leg to the business,' he said.

Up to 15 per cent of Martin Currie's new fund will be invested directly.

‘We are looking to back teams with the skills and track record to implement successful deals in the mid-market sphere,' said Hamish Mair, director of the private equity team. ‘We don't just want to invest in the big names, we want to have what we call a “conviction choice” portfolio.'

Copyright © 2003 AltAssets