AIG Private Equity Portfolio III Closes with $239 Million in Capital Commitments.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group Global Investment Group (AIGGIG), whose member companies are subsidiaries of American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. , Inc. (AIG), today announced that AIG Private Equity Portfolio III (PEP III) had its second and final close on Friday, November 12, 2004, with commitments totaling $238,911,667. PEP III is a program consisting of five private equity funds sponsored by AIGGIG. The objective of PEP III is to realize long term capital appreciation by creating a diversified portfolio of investment funds Noun 1. investment funds - money that is invested with an expectation of profit investment assets - anything of material value or usefulness that is owned by a person or company , direct and secondary investments. PEP III permits investors to participate in a diversified portfolio of private equity investments through three funds of funds focusing on U.S. buyout, non-U.S. buyout and venture capital investments, as well as a secondary investment fund of funds Fund of Funds A mutual fund that invests in other mutual funds. Notes: For example, an investor would select a general risk profile and the fund-of-funds manager would pick underlying investments from a range of products managed by external managers. and a direct investment fund. "The strategy of pursuing a diversified multi-manager approach to private equity, coupled with its direct investment capability, can reduce investment volatility and stabilize expected returns for investors," said Steven Costabile, Managing Director and head of the Private Equity Funds Group for AIG Global Investment Group. The 21 investors in PEP III comprise insurance companies, pension funds, endowments, universities and university foundations. Subsidiaries of AIG have also made investments in PEP III. AIGGIG formed two predecessor funds, AIG Private Equity Portfolio, L.P. (PEP I) and AIG Private Equity Portfolio II, L.P. (PEP II) in June 2000 and April 2001, respectively. PEP I had its final closing on December 30, 2000 with $250 million in capital commitments. PEP II had its final closing on June 30, 2002 with $135 million in capital commitments. AIG Global Investment Group (AIGGIG) comprises a group of international investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and companies that provide advice, investment products and asset management services to clients around the world. The members of AIGGIG are subsidiaries of American International Group, Inc. (AIG). AIGGIG has over 1,400 employees located in 38 offices around the world including New York, London, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Tokyo, Toronto and Zurich. American International Group, Inc. (AIG) is the world's leading international insurance and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. organization, with operations in more than 130 countries and jurisdictions. AIG member companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In the United States, AIG companies are the largest underwriters of commercial and industrial insurance and AIG American General is a top-ranked life insurer. AIG's global businesses also include retirement services, financial services and asset management. AIG's financial services businesses include aircraft leasing, financial products, trading and market making. AIG's growing global consumer finance business is led in the United States by American General Finance. AIG also has one of the largest U.S. retirement services businesses through AIG SunAmerica and AIG VALIC, and is a leader in asset management capabilities in equities, fixed income, alternative investments and real estate. AIG's common stock is listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , as well as the stock exchanges in London, Paris, Switzerland and Tokyo. |
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