Dunedin Capital Partners, the UK mid-market private equity house, has completed the fundraising for the Dunedin Buyout Fund II with commitments of £250m. Dunedin originally sought to raise £200m, but due to demand a hard cap of £250m was set. The company’s funds under management are now more than £500m.
The fund was raised from a total of 21 investors, including 15 new investors from the UK and Europe. All investors in Dunedin’s first fund re-invested in the new fund.
Since becoming independent in 1996, Dunedin has backed 32 buyouts and its first buyout fund has a realised return of 3.7 times and a 42% IRR.
Dunedin will continue to focus on investing in UK mid-market buyouts with a transaction value of £10m to £75m in companies with strong growth prospects. The new fund will allow it to invest up to £50m of equity in any one deal. JPMorgan Cazenove acted as placement agent for the fundraising and SJ Berwin LLP provided legal assistance.