is planning to open a closed-end fund-of-funds specializing in mid-market buyouts. The Schwab unit filed paperwork with the SEC on the fund this week. The firm is also planning a second, non-registered version of the fund that will make similar investments.
The firm will raise $100 million for the Excelsior Buyout Investors LLC
. The funds will be used to invest in between eight and 12 private buyout funds. The fund will carry an investment minimum of $25,000.
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