euro adhoc: Fortune Management Inc.
other
Fortune and HLSP Stone
Pine Investment Banking L.L.C. (HLSP)seek strategic Partnership
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
02.06.2005
Zug/Schweiz, 2nd June 2005 - Fortune Management Inc., (General Standard, ISIN USU026281027, WKN: A0BLYY) and HLSP Stone Pine Investment Banking L.L.C.(HLSP) have entered into a Letter of Intent.
HLSP is a joint venture between Hamilton Lane Philadelphia and The Stone Pine Companies L.L.C., Denver, which principal purpose is the consolidation of private equity management companies on a global basis. HLSPs set-up is therefore similar to that of Fortune Management, which focuses its business model on the consolidation of independent asset managers. By entering into a strategic partnership, both companies expect to unlock synergies in administrative as well as capital market tasks.
The companies have agreed to conduct a due diligence in the coming weeks, with the objective to reach a definitive agreement in due course.
End of ad hoc release
Profile of Fortune Management Inc.: FORTUNE Management Inc., Zug, Switzerland, focuses on building a network of independent asset management companies, mainly in Switzerland. It has subsidiaries in the Swiss cities of Zug, Zurich and Geneva, as well as in Dubai, the UK, Germany and Belgium. FORTUNE aims to acquire majority stakes in such companies. These asset managers are then integrated into the Group, thereby relieving them of as much of their middle office administrative workload as possible. The resulting economies of scale contribute to improving the cost-income ratio. Research and portfolio management support is provided with a view to enhancing risk-adjusted returns for investment clients. The asset managers relationships with their clients and custodians remain intact, and the firm continues to trade under its established name.
FORTUNE Management Inc. was created from the former ComTelco International Inc. at the end of 2003 following a strategic reorientation. Its stock (ISIN: USU 026281027) is traded on the regulated market (General Standard segment) of the Frankfurt stock exchange.
end of announcement euro adhoc 02.06.2005 07:48:29
Further inquiry note:
Fortune Management Inc.
Christian Hillermann
Investor Relations Manager
Tel.: +49 40 / 23608-897
Fax: +49 40 / 23608-500
Email: ir@fortune-management.com
Branche: Financial & Business Services
ISIN: USU026281027
WKN: A0BLYY
Index: General Standard, Prime All Share, HDAX, CDAX
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Berliner Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bremer Wertpapierbörse (BWB) / free trade