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BoS Takes Strategic Stake in HNW Investment Club

Nick Parmee

31 October 2007

Bank of Scotland Corporate has taken a strategic 19.9 per cent stake in London-based investment club Pi Capital through its growth equity team. No shares were sold by existing Pi shareholders. Pi seeks growth equity and alternative asset investment opportunities for its members and negotiates participation in private equity deals, on an opt-in basis. The bank's growth equity team, led by Stephen Campbell, makes direct equity investments into a variety of businesses directly from the bank's balance sheet, not from a fund, which the bank feels gives flexibility to work with management teams. Following the bank's investment, Pi will gain access to its growth equity deals and a partner who can open doors for Pi members to investments in other asset classes. Via its partnership with Bank of Scotland and others, Pi intends to develop its investments in alternative assets, including debt, mezzanine and real estate. The bank hopes to benefit from access to Pi’s network of UK entrepreneurs, business leaders and financiers.