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Kleinwort Capital severs Dresdner link

Kleinwort Capital has become a fully-independent private equity house after buying back German bank Dresdner Kleinwort Wasserstein's one-third stake.

The buy-out firm's management company, in which the bank held the stake, is now owned entirely by the six executive directors of Kleinwort Capital, headed by managing partners Richard Green and Andrew Hartley. The purchase price was not disclosed.

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