ING is providing debt to support the deal, Cohen’s first since leaving Apax. IAM was founded by chairman Albert Fuss and has $4.3bn under management. It it hoping to expand outside Europe over the next few years. It was originally ABN Amro’s hedge fund operation, but was sold to Fortis last year as part of the break up of the Dutch Bank. Cohen was a keynote speaker at this year’s Real Business/CBI Entrepreneurs’ Summit where he spoke about how venture capitalists help foster an entrepreneurial society and why he thinks there’s still more bad economic news to come.
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