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Ex-Pipex boss says of new venture: 'Please don't call me a private
Independent on Sunday, The, Aug 5, 2007
PETER DUBENS pocketed a tidy sum when he sold Pipex, the broadband provider, to Tiscali for [pound]210m. But just as the private equity industry is reeling from a credit crunch and rising global interest rates, he has joined the buyout craze and listed a new [pound]400m vehicle called Oakley Capital Investments.
"Actually, it's not a private equity fund," he sniffs. "It is an industry consolidation play, it's just called a private equity fund because everyone likes to put you in a box." That said, it is as secretive as a private equity fund. "We have some very big private investors, but I can't possibly tell you who they are" Dubens adds.
But the telecoms entrepreneur must be feeling confident that his new business is destined to succeed: he has put [pound]10m of his own cash into the venture.
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