Candover Investments has approved flexibility on the terms of Candover 2001 and Candover 2005 funds, Financial News reports. The 2001 fund will now shut on June 13, 2013, which is two years later than scheduled. The delay will allow the outstanding investments to be realized at an optimum time and value.
The 2005 fund’s tenure for follow-on investments in existing portfolio companies has been extended until August 26, 2013 for the remaining capital in the fund to continue to be available for supporting portfolio company growth. The 2001 and 2005 funds’ extensions needed 100% and 75% acceptance from investors, respectively.
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