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Lombard buys stakes in EQT and Adveq funds

The Luxembourg life assurance company has acquired stakes in two 2013 vintage funds and recently hired a head of unquoted investments.

Lombard International Assurance has acquired stakes in 2013 vintage funds EQT Mid-market and Adveq Secondaries II, according to UK regulatory notices.

Last week Lombard purchased the EQT fund stake from Fredrik Von Oelreich, chief executive officer of Swedish confectionary company Candy King.

EQT Mid-market Fund closed on €1.1 billion last year and also received a commitment from Stockholm-based SEB Asset Management, according to PEI’s Research and Analytics division. EQT did not return a request for comment.

Lombard bought the Adveq stake earlier this month from Benedetta Zegna, the talent manager of Italian men’s fashion company Ermenegildo Zegna. Adveq, which also didn’t return a request to comment, closed its Secondaries Fund II on its $175 million hard-cap in October 2013.

The Zurich-based fund of funds manager invests in smaller opportunities across a broad range of investment stages, including small- and mid-size buyouts, development and early-stage venture capital funds.

Luxembourg-based Lombard offers wealth planning solutions to high and ultra-high net worth individuals. The company has more than €24 billion of assets under administration, according to its website.

Lombard recently hired a head of unquoted investments to manage the investments and lead due diligence and valuation processes, according to its website. The company declined to disclose who took over the role.