Leading European private-equity firm Doughty Hanson finally launched its long-delayed fourth buy-out fund at the end of October but will have to work hard to convince investors to hand over their money.
Doughty Hanson first planned to launch the fund last autumn but decided to postpone it due to the impact of the events of September 11. The New York tragedy certainly closed off a number of exit routes.
At that time, as well as hoping to raise new funds, Doughty Hanson was planning IPOs for several companies, such as LM Glasfiber, but found that it couldn’t get these off the ground.
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