PRESS DIGEST-Funds Industry News - Oct 3

LONDON, Oct 3 (Reuters) - Financial Times

* Legal & General Investment Management , one of the UK's biggest shareholders, has stepped up efforts to crack down on excessive pay by voting against 18 remuneration committee chairmen on company boards so far this year.

* Blackstone has set up a joint venture for financial services deals with London-based Anacap Financial Partners, as the two private equity groups seek to acquire European banking and insurance businesses.

* Two of Parmalat's minority shareholders have written to the dairy company's board saying the recent $904 million acquisition of Lactalis America Group shows that management is acting exclusively in the interests of the majority shareholder.

* Global Infrastructure Partners, the private equity group that owns the UK's Gatwick and Edinburgh airports, has raised $8.25 billion for a fund to invest in infrastructure assets in developed markets.

(Compiled by Laurence Fletcher)

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