November 6 (SeeNews) - UK private equity group Future Capital Partners has raised a total of 65 million British pounds ($107.2 million/72.7 million euro) from 38 clients for a real estate project in Montenegro, online financial journal Portfolio Adviser said.
Future Capital Partners has temporarily closed its fund-raising book and is expected to resume fund raising - towards a target of 150 million British pounds, in late November and will close its book again in March 2010, Portfolio Adviser (www.portfolio-adviser.com) said.
The luxury real estate development in the Adriatic resort town of Budva - for which Future Capital Partners has actively been raising capital since January this year, will include a series of residential properties, a dedicated trade fair complex and a hotel to be run by InterContinental, the online journal said.
Portfolio Adviser, a unit of Last Word Media, is a monthly magazine for discretionary portfolio managers, private bankers and advisers specialising in investments.
(1 euro=0.8942 British pounds)