(RTTNews) - Private equity house Candover Investments plc (CDI.L: News ) said Wednesday that the standstill agreement relating to the suspension of the Candover 2008 Fund would be extended to December 4, and that the company would consider alternative ownership structures, depending on the outcome of discussions on the future of the fund.

The company intends to extend the standstill agreement relating to the suspension in order to allow discussions to continue with the Limited Partners with regard to the future of that Fund. Candover noted that changes to the current structure would remain dependent on the progress and outcome of discussions concerning the fund's future.

In its interim management statement related to the three-month period from July 1 to September 30, the company said despite a challenging economic climate, its portfolio companies continue to show resilience overall. Candover said its investment portfolio was last valued as at June 30, marking net asset value per share at 902 pence.

Seven out of the ten largest companies that accounted for 87% of Candover's investment value at June 30 continue to deliver earnings on a rolling 12-month basis above or broadly in line with the prior year, the company said.
Candover also said the next valuation would be conducted as of December 31, and consistent with its valuation policy it would continue to apply earnings-based valuations to portfolio businesses and would appropriately value the carried interest of the Company in the respective funds.

CDI.L is trading up 1.32% at 575.00 pence on the LSE, higher by 7.50 pence.

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by RTT Staff Writer

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