The vehicle will start with a partly-paid structure, possibly with 60% of fully-paid price of units to be paid at the time of the IPO and 40% to be paid after 12 months. At least 80% of the IPO proceeds will be invested in Doughty Hanson funds and in co-investments. Up to 20% may be invested in opportunistic investments, such as mezzanine facilities. No timetable for the IPO was given, but market sources suggest October is the most likely time.
Doughty Hanson is the second major private equity group to seek a listing in Amsterdam. Earlier this year, US-based Kohlberg Kravis Roberts listed a euro 3.93 billion ($5 billion) fund called KKR Private Equity Investors.
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