ERP-EIF Dachfonds announces a first distribution

After just 2 years of operation, the ERP-EIF Dachfonds, a EUR 500m fund of funds that is managed by a dedicated team at European Investment Fund, has made a first substantial cash distribution to investors. The proceeds follow the trade sale of a medical technology company in the portfolio of NGN BioMed Opportunity I, one of the six funds in which the Dachfonds has invested to date.

Matthias Ummenhofer, who heads EIF's Dachfonds management team commented: We are pleased to return capital to our investors at an early stage of the fund's life and particularly satisfied that this first exit comes from the portfolio of an emerging General Partner we selected in the early- to expansion-stage Life Science segment. The strong performance of NGN supports our conviction that emerging managers often deliver and perform better than established players. However, identifying the right emerging managers has proved to be difficult and as such, requires a highly qualified team with a specific skill-set and experience.

NGN BioMed Opportunity I was also an investor in Jerini AG which went public in November 2005 on the Prime Standard in Frankfurt and which was the first initial public offering in the ERP-EIF Dachfonds's portfolio.