BARING UNIT SETS UP FUND FOR MANAGEMENT BUY-OUTS
  Baring Capital Investors Ltd (BCI), a unit
  of the U.K. Merchant bank &lt;Baring Brothers and Co Ltd>, said it
  has raised 61 mln European Currency Units (ECUs) which will be
  invested in management buy-outs and development capital
  opportunities in the U.K. And continental Europe.
      The funds were raised through BCI's first such fund - the
  Baring Euaring European Capital Trust - from investors in nine
  European countries. It expects to raise another 40 mln ECUs
  soon through a French fund and a fund for U.S. Investors.
      BCI was set up last year by Baring Brothers to advise
  buy-out and development capital investors.
      BCI said the new fund is structured as a Guernsey-based
  unit trust, which will be listed on the Luxembourg Stock
  Exchange. It will be advised by BCI and managed by a company
  owned jointly by Barings and the management of BCI.
      Individual investments are expected to range between one
  and 10 mln ECUs and are likely to be concentrated in the U.K.,
  Germany and France.
      BCI said its aims are to invest in established companies,
  principally family companies with succession-issues and
  corporate spin-offs.
  

