Advantus Capital To Offer Limited Partnership Interests

January 25, 2002 ( - Advantus Capital Management has formed Advantus Capital Partners Fund I, L.P. to offer $150-$250 million of limited partnership interests to qualified institutions and high net worth individuals.

The fund invests as a limited partner in a diversified portfolio of venture capital, buy-out, and other private equity funds.  The fund will be composed of approximately two-thirds early stage venture capital funds and one-third middle-market buy-out funds, according to a press release.

Minnesota Life Insurance Co., of which Advantus is a subsidiary, has committed to eight private equity investment partnerships that will be transferred into the fund.

Minnesota Life also committed a minimum of $50 million as a limited partner in the fund, making it the insurer’s primary investment vehicle for venture capital and buy-out fund investments.