It marks the fifth and largest fund for Cabot Square, which said it looks for value in financial firms and property where assets are being sold due to regulatory changes or from disruption from new technology, often targeting specialist lenders where a funding gap has been left by banks.
In the last 18 months Cabot Square has invested in Portuguese vehicle financier BPN Credito; Henry Howard Finance, which provides sales finance for small businesses; and Britain’s JBR Capital, which finances the purchase of high-end, sportscars and classic cars.
It said it looks for undervalued but cash-generative assets to “transform … into efficient and scalable businesses attractive both to strategic buyers and other investors.”
($1 = 0.6402 pounds)
(Reporting by Steve Slater for Reuters)