ERGO Equity Partner AG takes over management of innotech Fund

21 May 2004

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ERGO Equity Partner AG has taken over the management of the private equity fund innotech Beteiligungsgesellschaft mbH & Co. KG with effect from April 1, 2004. In 1999 innotech Group set up the fund with a total volume of around E40m. A change of strategy by the principal investor, EnBW AG in 2003 led to the sale of its limited partnership interests to the other innotech investors. In this context, the investors decided that the fund should not be involved in further investments but that it should focus on the development of the current portfolio of 10 investments. Due to the change in purpose, the investors and the current management agreed that the management of the innotech Fund should be transferred to ERGO Equity Partner AG as from April 1, 2004. In the course of the management transfer the fund has been renamed Techinvest Beteiligungsgesellschaft mbH & Co. KG. ERGO Equity Partner AG has a specialised team of investment managers and finance experts available to take over the management function for third party funds at the request of the investors with the clear objective of maintaining, or successively liquidating, the funds in the best interests of the investors. In this respect, ERGO Equity Partner AG's network, and even particular synergies with the company's own private equity funds, can be used actively. In this context, ERGO Equity Partner AG has taken over the management function of the private equity funds of the Berlin-based IMH Group with an aggregated fund volume of approximately E100m in August 2003.