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Derivatives

Dutch Manager Preps Leveraged Private Equity Certificate

Robeco Alternative Investments is gearing up to launch a leveraged private equity investment certificate next month.

Robeco Alternative Investments is gearing up to launch a leveraged private equity investment certificate next month. The Rotterdam, Netherlands-based fund manager is writing an option on one of its own private equity funds, Robeco Clean Tech Private Equity.

Edwin Noomen, an official responsible for structured products, explained because the funds are managed internally, the firm is comfortable writing the option on the fund itself. The Robeco Clean Tech Certificate will offer investors 130% exposure to the fund over 12 years. The certificate's expiry may be extended to 16 years, however, if the fund has not wound up all its underlying investments.

Robeco is targeting EUR50-100 million for the fund. It raised EUR90 million for a similar certificate referencing a broader private equity fund in February. Noomen said it is marketing the certificate to European investors, both high-net-worth and institutional. It appeals to some institutional clients, he explained, because they are not able to invest directly in private equity funds.

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