Ann: Altech - Launch of German Project Equity Strategy, page-84

To be specific when asked at the EGM. Why would you go to JV/ part sale of project rather than raise capital from current investors.
(I chirped rate of return). Iggy said because Private Equity will be prepared to make offers based on their internal rate of return estimates that value the equity more highly (than the current share price).

Now we can argue about that 15% p.a. granted and the rate of return we each expect as investors for the risk taken but someone(s) with deep pockets are prepared to expect a better rate of return than that at the point before Mezz debt is finalised.

As to whether they pitched it to him or he to them or they both looked longingly at each other wanting to dance. I say it takes (took) two to Tango.