| SEGMENTAL
REVIEW |
| PRIVATE
EQUITY (CONTINUED) |
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| Investment
in Private Equity Funds |
The group has a direct investment of US$44 million
in its private equity funds (excluding capital participations),
primarily invested in Brait III. Brait has also committed a
minimum of US$23 million to Brait IV, and given the exceptional
current prospects for this fund and the private equity environment,
it will probably look to increase this commitment significantly
before the final closing of the fund capital raising programme
later this year.
The group has exceeded its ROE targets on its investments into
its private equity funds to date. |
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| IRR – Brait’s
investment in its funds |
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Sectoral analysis –
Brait’s investment in its funds
31 March 2006 (US$44 million) |
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