LONDON (Thomson Financial) - ACP Capital Ltd. said its ACP Investment
Management Ltd. (ACP IM) unit has entered into a minimum 5-year management
agreement with subsidiaries of the German private equity company GCI Management
AG.
ACP IM will be paid an annual fee based on 2 percent of GCI's audited net
asset value, but with a minimum of 1.57 million euros, the company said.
In addition, ACP Capital will be paid an annual 20 percent carry, if annual
profits exceed 8 percent, based on all profits in excess of 52.5 million euros.
ACP Capital said ACP IM is also engaged in similar discussions in Italy and
France to develop private equity initiatives.
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