Candover closes portfolio
By IBI Magazine
Candover Investments, the UK private equity fund and former majority shareholder of Italian boatbuilder the Ferretti Group, is to cease activity.
The remaining companies in Candover Investments' portfolio will be sold off and investors and shareholders will be repaid.
Candover Investments purchased a 60 per cent share in Ferretti SpA in 2006 for an estimated €1.7bn. Ferretti went onto default on its debt in January 2009. A restructuring finalised in July 2009 saw Ferretti acquired by its lenders and managers.
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