Centurion Capital has reached a final close on its debut fund, achieving €150m in commitments. The fund has attracted an exclusively European base of private and institutional investors.
Centurion will target mid-market companies that will benefit from the convergence of Europe’s economies and the expansion of the EU. Average size of investment will be between €5m and €40m for a controlling stake of the business.
The London-based team of six is led by Richard Waryn and Edwin Richards. Prior to founding Centurion, Waryn co-founded Finartis Private Equity, which focuses on private equity investments in Central & Eastern Europe. Richards was at UBS Capital for eight years, where he served as a director, then partner, specialising in mid-market buyouts and development capital situations in western Europe.
Investee companies will typically benefit from expanding their markets, relocating manufacturing to lower cost regions or outsourcing to Central & Eastern Europe.
Richard Waryn, CEO, said: “Successful restructuring and signs of strong recovery and economic reform of late in CEE, together with lower costs, make these markets very attractive to investment. We see considerable opportunity to take local leaders in both Eastern and Western Europe and successfully expand them into European champions.”