How a bright idea 60 years ago laid the groundwork for hedge fund ETFs
Feb 2nd, 2010 | Filed under: Private Equity, Today's Post
With the dust still settling after World War II, British policymakers began to turn their attention to what had been called “a chronic shortage of long-term investment capital for small and medium-sized businesses.” The result was the Industrial and Commercial Financial Corporation (ICFC), a pool of capital funded by major British banks. Fast forward to July 1994, and the successor to the ICFC – now known as “3i” became one of the first private equity funds to be listed on an exchange.
Since then, many other private equity funds have listed themselves – most notably in the UK. In fact, one might even say that listed private equity funds have blazed a trail for the recent wave of hedge fund ETFs. More…
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