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The fund of funds arm of Piper Jaffray is to spin off.

by Joe Childs

  • 21 Oct 2010
  • PE

Piper Jaffray Private Capital Group is to become an independent firm from 1st December 2010, when it will be renamed North Sky Capital. Scott Barrington, a managing director at Piper Jaffray, will lead the new organization. Piper Jaffray Private Capital was established in 2000 to raise and manage private equity funds of funds that focus on three particular strategies: venture capital, leveraged buyout, and cleantech and alternative energy. North Sky Capital will continue to make private equity investments through these vehicles and Piper Jaffray will continue to fulfil the capital commitments it made to the funds.

Idinvest Partners, another manager of private equity funds of funds that was rebranded this year, has relocated its office in Paris. The firm moved its headquarters within the city last month following a change of identity and ownership in May. Previously known as AGF Private Equity, Idinvest Partners was purchased by private equity firm Groupe IDI from the Allianz France group. The managers of Idinvest Partners now hold a 49% stake in the firm.

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