Adveq to open US office

Zurich, Switzerland, June 4, 2007 – Adveq, the Swiss private equity fund of funds investment management company, announces that it is opening an office in New York. Several of Adveq’s Zurich based investment professionals will transfer to the US, including two new hires, Lee Gardella and Steven Yang, who have joined Adveq’s investment management team as Executive Director and Vice President respectively. 

Before joining Adveq in May, Lee Gardella was a Managing Director leading the Private Markets Group for CTC Consulting, Inc., a subsidiary of U.S. Trust Company.  From 1997 to 2005 he worked for U.S. Trust Company in the Private Equity and Alternative Investment Divisions. Previously, Lee was an Associate at the Edison Venture Fund and Wilshire Associates. He holds a BSBA in Finance from Shippensburg University and an MBA from the University of Notre Dame.  Lee is a Chartered Financial Analyst.

Steven Yang, who joined in April, was previously at Beagle Limited, a New York based family office, as a portfolio manager for private equity partnerships, hedge funds, and direct investments in early stage technology companies. Before 2000 he worked for Welch Capital Partners as an analyst, focusing on investments in enterprise hardware/software and telecom equipment/services. Steven holds a BS in finance and international business from New York University. 

Bruno E. Raschle, Chief Executive Officer of Adveq, said: “Adveq invests globally in private equity funds by benchmarking each investment against its peers worldwide. Having some of our investment professionals based in the US is a natural step in the evolution of the company which also enhances our value-add to fund managers. Lee and Steven will operate out of the New York office and will be joined by other investment professionals from Zurich.”

About Adveq
Adveq is the leading independent private equity fund of funds investment manager in Europe. Founded in 1997, Adveq currently manages approximately USD 3 billion of assets for its clients. These clients consist almost entirely of international institutional investors including pension funds, insurance companies, family offices and other financial services providers, that are located primarily in Europe, Asia, Australia and the United States.

Further information
Stefan Bannwart
Head of Corporate Communications
Adveq Management AG
Affolternstrasse 56
CH-8050 Zürich
Telephone: +41 (0)43 288 32 00
Fax: +41 (0)43 288 32 10
E-Mail: stefan.bannwart(at)adveq.com
www.adveq.com