Federated Hermes has launched the GPE Innovation Fund II, following on from the original fund launched in 2020.
The firm said the new offering is focused on driving innovation and technological advancement across Europe.
It will focus on companies and funds with strong growth potential in the information, communication, and technology sector, particularly within non-cyclical sub-themes such as digital enterprise architecture and next generation healthcare.
The strategy is split between two separate funds; one for fund investments and one for direct investments and co-investments.
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The fund is available for distribution across jurisdictions including, but not limited to, the UK, Switzerland and other core European Union markets. It will conform with Article 8 of the EU Sustainable Finance Disclosure Regulation.
Commitments to the fund have already been secured from British Business Investments and BT Pension Scheme.
Peter Gale, CIO and head of private equity at Federated Hermes GPE, commented: “Following the success of HINF I, HINF II underlines our priority to maintain a strong focus on investing in European growth opportunities.
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“We prioritise investments in companies and themes that are at the forefront of accelerating technological innovation. By focusing on software-enabled themes and capturing opportunities arising from demographic and societal changes, we stay ahead of industry trends with the aim of driving growth within the portfolio.”
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