Conversus Announces Reinvestment of Performance Allocation by Oak Hill
Guernsey, England (ots/PRNewswire)
Conversus Capital, L.P. (Euronext Amsterdam: CCAP), a permanent capital vehicle designed to offer its unitholders long-term capital appreciation through a seasoned and diversified portfolio of private equity interests, announced that on October 18, 2007, it issued 90,192 common units, in the form of RDUs, to OHIM Investors, L.P., an affiliate of Oak Hill Investment Management (OHIM). The units issued were subscribed to by OHIM in partial fulfillment of OHIM's obligation to invest 25% of its performance allocation until it has invested a further US$25 million in addition to its original investment of US$25 million to bring its total investment in RDUs to US$50 million. For the fourth quarter of 2007, OHIM has elected to reinvest 1.5 times its contractually obligated percentage, or 37.5% of its performance allocation.
About Conversus Capital
Conversus Capital, L.P. (Euronext: CCAP) is a permanent capital vehicle designed to offer its unitholders long-term capital appreciation through a portfolio of seasoned and diversified private equity interests. CCAP provides immediate access to a diversified portfolio of private equity funds. CCAP will reinvest distributions from its current investments in primary fund commitments, secondary fund purchases and direct co-investments. Conversus Asset Management, LLC (CAM), an independent asset manager, implements CCAP's investment policies and carries out the day to day operations of CCAP pursuant to a services agreement. CAM leverages the platforms of Bank of America and Oak Hill, its primary owners, in sourcing investments for the benefit of CCAP.
Legal Disclaimer
These materials are not an offer for sale of securities in the United States. Securities may not be sold in the United States absent registration with the U.S. Securities and Exchange Commission or an exemption from registration under the U.S. Securities Act of 1933, as amended. CCAP is not a registered investment company under the U.S. Investment Company Act of 1940, as amended (the "Investment Company Act"), and the resale of CCAP securities in the United States or to U.S. persons that are not qualified purchasers as defined in the Investment Company Act is prohibited. CCAP does not intend to register any offering in the United States or to conduct a public offering of its securities in the United States.
Investor Contacts:
Timothy A. Smith
Chief Financial Officer
Conversus GP, Limited
Tel: +44-1481-745-175
Andrew Greenebaum / Anne Rakunas
Integrated Corporate Relations
anne.rakunas@icrinc.comContact:
Investors, Timothy A. Smith, Chief Financial Officer, Conversus GP,
Limited, +44-1481-745-175; or Andrew Greenebaum or Anne Rakunas,
anne.rakunas@icrinc.com, of Integrated Corporate Relations