Capital Z Investment Partners and Reservoir Capital Group formed a joint venture to invest in new U.S. and foreign private equity fund management companies, said Laurence Cheng, CEO and chairman.
Although Capital Z has invested a portion of its $2.25 billion under management in hedge funds, the new joint venture will invest only in private equity firms, Mr. Cheng said. Capital Z formed the joint venture as a quicker way of attaining investment capital. Currently, Reservoir Capital Group has more than $2 billion under management.
