U.K. venture capital company Cinven Ltd. hired Lloyds Bank Securities...

U.K. venture capital company Cinven Ltd. hired Lloyds Bank Securities Services as custodian for its new 300 million ($500 million) U.K. buy-out fund. The fund, which will invest in buy-outs valued at more than 10 million, is Cinven's first since it was acquired in a management buy-out earlier this year. The fund will invest alongside Cinven's other clients: British Coal Pension Schemes, Railways Pension Schemes and Barclays Bank Pension Fund. Another client, Royal Life Insurance, now will invest through the fund.