The ILEX Group announced today that it is closing its private equity investment unit. The private equity firm, ILEX Investments International, specialized in support of start-up companies using American technology in Southern Asia, the Middle East, and Eastern Europe. The firm had previously stopped making new investments last December to better evaluate business opportunities in these regions. The decision came as a result of current global economic conditions and the ILEX Group decided to shutter the company and return investments and profits to its shareholders. ILEX Investment International managed a $150 million portfolio at its peak.
The ILEX Group is a privately-held, broad-based marketing, government relations consulting and lobbying firm located in McLean, Virginia. The company also announced that Phillip Platt, President and COO of the investment company, has left ILEX in order personal objectives.