Delta Lloyd Group, is to acquire the management company Cyrte Investments that manages the Cyrte Fund I and Cyrte Fund II.
Delta Lloyd Group, is to acquire the management company Cyrte Investments that manages the Cyrte Fund I and Cyrte Fund II.
Cyrte Investments' ambition is to grow the two existing funds into a broad investment platform with focus on several current and developing themes. Delta Lloyd Group's acquisition of Cyrte Investments increases Cyrte's power to accelerate that growth.
Cyrte Investments' philosophy anticipates the reallocation of disposable income as a result of technological innovation. Hence Cyrte Fund I focuses on themes related to the telecommunications, media and technology (TMT) sector. Delta Lloyd Group's initial contribution to the Cyrte Fund I will be EUR 150 million.
The recently-acquired interest in Endemol will be transferred to Cyrte Fund II. The sale of Cyrte investments has no effect on the Endemol transaction nor on John de Mols stake or involvement in this transaction.
Alex Otto, Director Investments of Delta Lloyd Asset Management, is enthusiastic about the opportunities created by the combination of Cyrte Investments and Delta Lloyd Asset Management: "Cyrte fits perfectly with Delta Lloyd's successful strategy of managing profitable funds with a distinctive investment profile. This opens up new opportunities to further expand successful investment concepts."
Delta Lloyd Asset Management's activities comprise the management of the mutual funds of Delta Lloyd, OHRA and Triodos and asset management for institutional investors. Total assets under management amounted to about €52 billion at year-end 2006.
Founded in 2000 under the name of Talpa Capital, and based in Naarden, the Netherlands, Cyrte Investments begun as family office for the private wealth of media-entrepreneur John de Mol. The company now employs some 25 professionals. Dutch Pension Fund PGGM has committed EUR 500 million to the Cyrte Fund 1 CV.
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For more information on Delta Lloyd Group
David Brilleslijper
Director Corporate Communications
tel: +31 (0)20 5944488
cc@deltalloyd.nl
www.deltalloydgroep.com
For more information on Cyrte Investments
Thomas Notermans
tel: +31 (0)35 6959000
tnotermans@cyrte.com