WEST PALM BEACH, FL (www.hedgeco.net) – Convergent Management, Ltd. has launched its first private equity fund, the Convergent Private Equity Fund I, Ltd. The Fund’s primary investment objective is to identify and invest in companies that Convergent Management, Ltd., the Fund’s Manager, believes have potential for considerable growth, and rewarding exit strategies which may include acquisition, merger, cash sale or listing on a public market. In particular, the Manager seeks to invest in companies in which it can advise and influence, through a board seat or otherwise, the operation of the company’s business.
The intended investments are selected based on management expertise, market dominance, proprietary technology and identifiable highly valued exit strategies. An investment in the Fund offers a unique opportunity for Investors to have access to diverse businesses in their growth cycle that otherwise might not at this stage be made available to the public.
The individuals that own and manage Convergent Management, Ltd. each have had successful careers in the securities and private equity industry and have managed many well publicized banking transactions and public offerings. Most recently members of the manager were partners and advisors to EOTech Inc., a military contractor, purchased in 2002 for $1.5 Million and sold in 2005 to L-3 communications for $49 million cash plus earn out.
The Convergent Private Equity Fund is based in the British Virgin Islands, exclusively for off-shore investors with a minimum investment of $150,000. The fund will be accepting capital until the full subscription of $35 million is reached, and redemption is available upon liquidity events. Hedge Fund Services will provide the administration and KPMG will be responsible for the audit. The new Fund will use the legal services of Brown Raysman (US), Walker Smiths (BVI) and Stephenson Harwood (UK). The Convergent Private Equity fund is also listed on hedge fund database HedgeCo.Net.
For further information contact:
Convergent Funds Investor Relations
c/o Virgence Group LLC
98 Cuttermill Road Suite #370
Great Neck, NY 11021
Tel. (516) 570-1400
Fax (516) 570-1101
E-mail: adam@convergentfunds.com
rothstein@convergentfunds.com
