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SYDNEY, Sept 3 Asia Pulse - ING Private Equity Access Ltd (ASX:IPE) (ING PEAL) has reported a slight dip in annual profit and says current market volatility should only have a moderate impact on private equity activity.
ING PEAL today reported a one per cent fall in net profit to .1 million ($US4.97 million) for fiscal 2007 as revenue increased five per cent to $9.1 million.
The firm's number of private equity investments increased by 128 per cent in 2006/07 to 72 investments in unlisted companies, through 11 private equity managers.
Managing director Jon Schahinger said 2006/07 marked the completion of the company's formative life, as it decreased its exposure to the listed equities market to zero.
Debt in the fund's portfolio of investments was "typically" at prudent levels, on a ...
Source: HighBeam Research, ING PRIVATE EQUITY REPORTS SLIGHT FALL IN ANNUAL NET PROFIT.