Adveq Closes Opportunity Fund

Adveq of Switzerland has raised $457.5 million for Adveq Opportunity II, a fund-of-funds that will “pursue special and unique investment strategies outside the traditional private equity sectors of venture capital and buyouts in the U.S.” The firm also promoted Philippe Bucher, Nils Rode, and Lee Gardella to managing director, and Kang Pan to executive director.

 

PRESS RELEASE

 

Adveq, the Swiss headquartered private equity fund of funds investment management company, today announced the successful closing of Adveq Opportunity II with commitments of USD 457.5 million. In addition, the company announced that it has completed its registration with the US Securities and Exchange Commission (SEC).

Adveq Opportunity II, the second fund of funds in Adveq's Opportunity Program, reached its final close in May 2008 having raised USD 457.5 million and exceeded its original target. The
Opportunity Program was set up in May 2005 to pursue special and unique investment strategies outside the traditional private equity sectors of venture capital and buyouts in the US. The first fund in the Opportunity Program, Adveq Opportunity I, was closed in 2005 with commitments of USD 170 million and is now fully committed.

Adveq also announced today that it has completed its registration with the US Securities and
Exchange Commission (SEC) as investment adviser under the US Investment Advisers Act of
1940.

Bruno E. Raschle, Managing Director of Adveq, said: “Following the opening of our US office in
September 2007 and the opening of the Beijing office in May 2008, becoming a registered
investment adviser with the SEC is an important milestone in Adveq's continued growth and
development as a global investment management company. It will significantly enhance our
capability to grow continuously our business internationally in terms of both raising and investing
capital.”

In addition, Adveq has promoted the three senior executives Philippe Bucher, Nils Rode, and Lee Gardella to Managing Director and has appointed Kang Pan to Executive Director.

Philippe Bucher (35) joined Adveq in 2005. He brings ten years of professional experience
including working as an auditor of financial services companies at Arthur Andersen and in
corporate finance at PriceWaterhouseCoopers.

Nils Rode (38) joined Adveq in 2005. Prior to that, Nils worked as a Vice President with a US-based Private Equity backed IT and telecommunications company. From 1995 to 2002, he was a management consultant with McKinsey & Company and from 1992 to 1995 Nils worked in the equity fund management business at Deutsche Bank's DWS Investments. Nils was a software entrepreneur from 1983 to 1992.

Lee Gardella (41) joined Adveq in 2007. Before that, he was a Managing Director leading the
Private Markets Group for CTC Consulting, Inc., the family office investment advisory subsidiary of US Trust Company in Stamford, CT. From 1997 to 2005 he worked for the US Trust Company in the Private Equity and Alternative Investment Divisions. Previously, Lee was an Associate at the Edison Venture Fund and Wilshire Associates and a Treasury Analyst at National Steel Corporation.

Kang Pan (42) joined Adveq earlier this year. Before, Kang was Head of Business Development
for China at NYSE Euronext and worked for the Industrial and Commercial Bank of China (ICBC). From 1999 to 2006 he worked for ICBC in London, as Chief Representative of ICBC London Representative Office, and from 2003 to 2006 he was a Managing Director and Member of the Board of Directors for ICBC (London) Limited.

Bruno Raschle, Managing Director of Adveq, said: “These appointments come at an important
time in Adveq's development, bringing a broad range of experience and expertise to the firm.
Philippe, Lee, Nils and Kang have already made significant contributions to our business and are valuable additions to the existing management team.”

About Adveq
Headquartered in Zurich (Switzerland), with USD 3.6 billion under management, Adveq is one of the leading private equity fund of funds investment managers globally. The company was founded in 1997 and operates offices in Zurich (Switzerland), Frankfurt (Germany), New York (US) and Beijing (China). Adveq's investors consist largely of international institutional investors which benefit from Adveq's global network of over 120 premier fund managers worldwide.