Barlage, Knoth & Cie ends fundraising activities below minimum

Munich-based Barlage, Knoth & Cie has ended its fundraising activities unsuccessfully. The company, which launched its innovative AG-structured mid-cap fund earlier this year, was unsuccessful in raising the minimum of EUR 42m for two of three initially planned vehicles by 31 December 2002. The legal structure of the fund, which was thought to convince investors via its transparent approach on tax issues, did allow a prolongation of the fundraising period, but according to the fund manager the market feedback from instituions was not positive enough. Even though the firm had secured cornerstone investments of around 20% from HypoVereinsbank and Dr Klaus Murmann, the former president of the federal association of German employers, the team around Dr Tonio Barlage, Rainer Knoth and Frank Hock could not overcome the difficulties in the current fundraising market.

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• DACH