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HBOS launches fund for investors to put capital into its portfolio companies06/08/2008. Source: AltAssets. 
 UK lender HBOS is raising a £400m fund which will acquire stakes in HBOS portfolio companies, with HBOS continuing to be invested in those companies through the new investment vehicle. A source familiar with the fundraising has confirmed that HBOS has privately approached investors.
The fundraising process is still ongoing, the source said.
The portfolio in question includes UK companies such as social housing maintenance company Keepmoat and crane hire business Ainscough.
Some reports have suggested that HBOS is turning to third-party investors because its integrated finance model may not be working as well in the current economic climate as it was a year ago. Other reports quote sources saying that the move was planned about a year ago. HBOS recently announced a fall in profits.
Copyright © 2008 AltAssets
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