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Vision Capital closes latest fund at €680 February 2009

Vision Capital today announces the final closing of Vision Capital Partners VII LP (“VCP VII” or “the Fund”) at €680 million, almost double the size of its last fund which closed in 2006.

The Fund will support the further development of Vision Capital’s pioneering and innovative investment programme helping financial institutions, corporates and private equity firms achieve strategic changes by acquiring their non-core assets, mainly in whole portfolios. In common with its predecessors, the Fund is expandable using parallel investment vehicles to support larger transactions. Complementing the near doubling in its fund size, Vision Capital has recently expanded its team to 28 people.

90% of prior investors have provided commitments to the new Fund, while over 40% of the Fund has come from new institutional and sovereign investors from the US, Europe, the Middle East and Asia. Geographically, approximately 40% of the Fund has been committed by investors from Europe, 12% from the Middle East and Asia, and the balance from North America. The leading investors include Goldman Sachs Asset Management, HarbourVest, CV Starr and GIC Special Investments.

Julian Mash, Chief Executive of Vision Capital, comments:

“In the current climate, we are very pleased to announce a significant increase in our fund size, with 90% of our existing investors continuing their support and being able to begin new partnerships with other leading investors from around the world. With so much economic and financial uncertainty, we look forward with confidence to helping vendors achieve strategic change by providing certainty, liquidity and efficient realisations of their non-core assets in a single transaction.”

Vision Capital is a limited liability partnership | Registered in England number: OC336240 | Authorised and regulated by the Financial Conduct Authority