Funds sector-focused principal investment firm, Lexam Partners, is being closed down, Financial News reports. The move follows the inability of the company to raise capital for its proposed private equity fund. The planned private equity vehicle was expected to invest in asset managers and other companies in the investment management sector, such as distribution firms. The company was launched by Frédéric Jolly, Philippe Collas, Steve Wiltshire and Kevin Dolan in 2009. Previously, Jolly was CEO at Russell Investments in Europe, while Wiltshire was CIO for Europe, the Middle East and Asia Pacific.
Click here for the story from Financial News.