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Resolution is still on the hunt for life fund assets

<!--StartFragment--> BRITISH buyout firm Resolution told investors yesterday it remains &ldquo;fully engaged&rdquo; in pursuing acquisition opportunities, despite deciding not to proceed with a number of deals in the quarter to the end of March.<br /><br />The company, launched by City heavyweight Clive Cowdery, revealed it spent &pound;4m on due diligence investigations into possible buyout targets in the first quarter alone, withoutstriking any deals.<br /><br />The market statement said the firm&rsquo;s short term investments were valued at &pound;649m at the end of March, compared to &pound;653m at the end of 2008.<br /><br />The group had been temporarily barred from making acquisitions, during an investigation by City watchdog the Financial Services Authority, but that ended in early May.<br /><br />It was rumoured last week to be considering buying back closed life insurance assets that Cowdery sold to Pearl Assurance last year. <!--EndFragment-->