A UK listed private equity firm is on course to sell all of its fund interests by the end of 2011, despite analyst concerns that committing to such a rigid timetable could force the firm to sell too cheaply.

LMS Capital, the former private equity arm of investment group London Merchant Securities, said in a realisations update this week that it had signed agreements for the sale of its stakes in seven of its private equity funds for a gross consideration of £15.9m.