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Bank of Scotland set to launch new fund operation

Bank of Scotland is planning the launch of a new independent fund

management business but is staying tight-lipped on details.

The business will serve the UK and European corporate mid-market and will

also manage the bank&#39s existing £550m portfolio of mezzanine loans and

private equity investments.

It will be managed by Colin Leslie, who is divisional chief executive of

the bank&#39s structured banking division.

“The bank works well with venture capitalists and has a large diversified

management buyout senior debt portfolio,” he says. “We will build on these

relationships, focusing on junior and equity positions, with particular

emphasis on managing the bank&#39s fund of venture capital funds, which is

spread over 40 partnerships.”

Although the name, launch timetable and other appointments are being kept

quiet, the bank will announce further details during the coming month.

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