EUROPE - Bear Stearns joins iPEIT club

The Initiative for Private Equity Investment Trusts ( iPEIT ) now names Bear Stearns Private Equity Limited as one of its members, bringing the total number of PEITs under the umbrella organisation to 11. Bear Stearns is a listed fund of funds that invests in secondary transactions as well as select direct deals. The fund is a closed-end £280m vehicle listed on the London Stock Exchange. Its ‘just-in-time’ financing structure is intended to mitigate issues with liquidity and help overcome the j-curve, according to Bear Stearns’ Troy Duncan.