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Hands seen dropping plans for major bank role in new fund

30 Jul 2001

Guy Hands, the stellar private equity chief looking to extricate his Principal Finance Group from Nomura, may ditch the idea of teaming up with a big investment bank as a major investor in his planned £2bn fund, according to the Financial Times.

Analysts say that institutional investors are growing increasingly nervous about the performance of private equity funds that are closely linked to investment banks –recent results from JP Morgan Chase, UBS Capital and Morgan Grenfell Private Equity have shown less than star performances.

Hands is also considered a strong enough name in his own right to be able to raise the requisite funds without a big-name lead investor.

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