Education is clearly the target of many corporate investors these days.

Thus far, Nextwave's corporate investors do not own any stock.

But until the early 1990's, those shares made sense mainly for corporate investors, like insurance companies.

And unlike the names, when Lloyd's needs more money, the corporate investors can either pay up or leave.

Each step was carefully planned to add to the company's credibility with its individual and corporate investors.

More recently, the bulk of Lloyd's capital has come from corporate investors.

The change would reduce the current after-tax return for corporate investors.

The remaining shares would be sold to corporate and individual investors.

It currently has £4 billion under management for a wide range of private and corporate investors.

In return for their money the corporate investors are expected to earn 10 percent annually over a 10-year period.