European mid-market private equity firm Inflexion has closed the Inflexion Partnership Capital Fund III at its £1.75bn hard cap, making it the largest dedicated minority fund in Europe and 75% larger than its £1bn predecessor fund.
According to a press release, the fund’s strategy targets minority equity investments into high-growth, high-margin businesses looking to accelerate growth and has covered 24 investments to date, with eight exits generating realised returns of 3.9× gross multiple and 45% gross IRR.
The fund saw commitments from existing and new LPs across Asia, Europe, the Middle East and the US, and includes public and corporate pension plans, sovereign wealth funds, insurance companies, asset managers and family offices.
In addition to Partnership Capital — which is focused on minority investments and covers three core fund strategies to provide bespoke funding solutions across Europe — Inflexion’s flagship buyout fund is focused on majority investments across Europe whilst its enterprise fund focuses on the lower mid-market.
Inflexion’s latest fund will enable partnerships with companies in the UK and Europe with an enterprise value ranging between £200m and £1bn across business services, technology, healthcare, industrials, consumer and financial services sectors.
In a statement, David Whileman, Head of Partnership Capital at Inflexion, said: “Partnership Capital provides a truly differentiated European proposition and we are seeing increasing interest from both founder-led businesses and corporates wishing to partner with us. The businesses we back benefit from both our capital as well as our value acceleration experts to help drive growth whilst remaining in control of their businesses.”
Source: Private Equity Wire
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