GE to wind down private equity fund.

Financial News, October, 2002

US conglomerate General Electric is preparing to wind down its $3bn ([euro]3.08bn) private equity fund, which backs entrepreneurs by investing in unquoted companies.GE Equity Group notified its employees last week that it is looking to sell out of its current portfolio in a few years and will no longer look for new private investments. Some select investments will be reallocated to other parts of the corporation.

The GE portfolio is spread over a number of sectors and is also geographically diverse. It includes 250 companies, which are each worth around or below $90m on average.