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HEDGE FUNDS
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PRINT THIS PAGE Nestlé to launch new growth fund of €500m28/09/2005. Source: AltAssets. 
 Nestlé is to set up the Nestlé Growth Fund with committed capital of €500m, to be invested over five to seven years. The fund will help grow new businesses in the area of science and nutrition into a size that could allow them to be integrated into the mainstream business units of the Nestlé group.
Wolfgang Reichenberger, currently CFO of Nestlé, will run the new fund and form a partnership with Dr Gunnar Weikert, founder and chairman of Inventages Venture Capital Investments.
Peter Brabeck-Letmathe, chairman and CEO of Nestlé, said, 'Wolfgang Reichenberger, in his five years as CFO, was instrumental in strengthening the performance culture in our Group. Bringing down overhead costs through the FitNes project, setting up shared service centres and conducting many structural and financing projects, such as the Alcon IPO, and finally launching the first share buy-back for cancellation, were significant contributions to Nestlé.
'He now has the opportunity of fulfilling his desire to be an independent entrepreneur, while still being connected to the Nestlé Group. I wish him much success and satisfaction in his new endeavour. I am happy that with Paul Polman we could attract such a high-profile executive as his successor. Paul Polman's knowledge of the industry and his finance background will allow him to continue and to enhance the Nestlé model that combines top-line growth with continuous margin improvement and a better return on capital,' he continued.
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