Sunday September 27, 2020

KBC gets windfall after selling stake

KBC Asset Management, an Irish fund manager, has earned a multi-million-euro windfall after selling off its stake in one of Ireland’s largest venture-capital funds.

1st April, 2006

KBC Asset Management, an Irish fund manager, has earned a multi-million-euro windfall after selling off its stake in one of Ireland’s largest venture-capital funds.

KBC has sold its interest in the ACT 2001 Venture Capital Fund, a €171 million fund managed by Irish venture capital house ACT. The sale, to global asset management firm Schroders, was completed in recent weeks.

ACT 2001 has invested in a host of companies including AGI Therapeutics, the quoted...

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