Europe - Merrill Lynch divests stake in Kreos Capital III

New investors of the fund include Paul Capital, AIG PineStar Capital, HarbourVest Partners, Access Capital Partners and SVB Financial Group.

Merrill has been reported to still be the second largest single investor in Kreos III. Roman Kogan, director at the investment bank, has been cited as saying that both Kreo and Merrill were able to successfully accomplish their 'strategic objective of diversifying Kreo III's investor base'.

Kreos Capital is a venture debt provider in Europe. Kreos III began investing in January 2007 and has committed more than €330m to over 80 companies in 12 countries. The fund invests across all industrial sectors and stages of investments. Kreos also co-invests with other European venture capital funds. The fund expects to make total commitments of €500m by 2011.

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