Swiss asset manager Adveq has purchased a stake in Synova Capital Fund I from RCG International Opportunities, which is part of financial services company Cowen Group, according to a UK regulatory filing.
Terms of the deal, which closed on 17 June, were not disclosed.
Adveq purchased the fund stake via Adveq Management and Adveq Secondaries II, according to the filing. The latter fund closed in October 2013, reaching its hard cap of $175 million.
Both Adveq and RCG declined to comment, while Synova Capital did not returned a request for comment.
London-based Synova Capital invests in fast-growing UK companies valued between £5 million and £50 million in sectors including business services, consumer, technology, healthcare, education and financial services.
Adveq previously bought a stake in Synova Capital Fund I with its Adveq Europe V fund, in a transaction that closed in September 2012, according to another UK regulatory filing.
Synova Capital Fund I closed in 2007 with £100 million and is now fully invested, according to PEI’sResearch and Analytics.