Carlyle spun-out Melior Equity Partners raises one of the largest PE funds in Ireland of €160m

Apr 12, 2022 | News

Irish private equity firm Melior Equity Partners has closed Fund II on €160m, making it one of the largest PE equity funds in the state.Irish private equity firm Melior Equity Partners has closed Fund II on €160m, making it one of the largest PE equity funds in the state.

The firm said investors to the new fund include PE giant Carlyle, the European Investment Fund, Ireland Strategic Investment Fund, Bank of Ireland and AIB.

Melior aims to fill the financing gap for small to medium sized businesses in Ireland. It is targeting ten equity investments in private Irish companies over the next four years, worth between €20m and €100m.

Fund II has already been tapped for two investments including financial software business Salmon Software and Irish insurance brokerage firm BHP Insurance.

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Jonny Cosgrave, co-founder of Melior Equity Partners, said, “We are very proud of what the Melior team has achieved over the last two years. We have welcomed several new limited partners to our blue-chip investor base and succeeded in raising one of the largest Irish private equity funds.”

Peter Garvey, another co-founder, added, “We have the most experienced investment team in the Irish market. We have built strong track records at leading global investment firms over many decades as well as locally over the last eight years working with ambitious Irish management teams.

“We have a tremendous bench of senior advisors and an unmatched international reach through our ongoing relationship with The Carlyle Group. Collectively these attributes make Melior the partner of choice for many Irish business owners seeking help to grow.”

Melior spun-out from Carlyle in 2020. Cosgrave and Garvey co-led the group’s investment activities in Ireland before establishing the Dublin-based new firm.

Carlyle was the first global private equity firm to launch a dedicated private equity fund in Ireland alongside Cardinal Capital.

The Carlyle Cardinal Ireland fund closed on €295m of commitments and was focused on growth capital and buyout investments in small and medium sized businesses in the UK and Ireland.

Source: Altassets

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