Sigefi Private Equity reports on the first eight months of 2004

In a press release issued by Siparex, business at the companies and funds managed by Sigefi Private Equity was buoyant in the first eight months of 2004, confirming the rebound registered by the group at the end of 2003. Investments rose sharply (up by 42.5%) compared with 2003, as a direct result of the increase in venture capital operations and the continued high level of expansion and buyout transactions. Exits increased by 57% compared to the previous twelve months. Almost all exits were from expansion or buyout investments. As a result, capital gains on disposals more than doubled to EUR 10.3m, returning to a satisfactory level in expansion capital and LBO transactions. Following the opening of the Milan office in 2003, the first half of 2004 was highlighted by the establishment of the Madrid office and the joint launch of SES Iberian Fund I by Sigefi Private Equity and Espírito Santo Capital, the private equity subsidiary of Banco Espírito Santo, a Portuguese banking group.

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