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Doughty Hanson Plans $1B-Plus IPO

AMSTERDAM-The listed company will invest mainly in private equity, real estate and technology funds. It is the second major private equity group to seek a listing in Amsterdam.

By Anita Howarth | Updated on September 15, 2006

AMSTERDAM-UK-based private equity group Doughty Hanson & Co. plans to raise euro 1 billion ($1.27 billion) by listing its investment operation, Doughty Hanson & Co. Investments LP Inc., on the Amsterdam stock exchange. In a statement, Doughty Hanson officials say the listed company will invest mainly in private equity, real estate and technology funds as a limited partner. It will also make co-investments with outside property holding companies and will make other investments as identified by the parent group. Doughty Hanson will commit euro 40 million, the statement reveals.

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.

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