Inflexion Private Equity, a London and Manchester-based mid-market private equity investor, has completed the fundraising for its new 2006 Buyout fund at £165m. This brings Inflexion’s total assets under management to £300m. The fund was raised without a placement agent, achieving its target within six weeks and closing at the hard cap, according to the group.
A spokesperson for the group said that the fund has 14 investors for the UK, Europe and the US including pension funds, fund of funds and other institutional investors. They added that all of the LPs from Inflexion’s current 2003 Buyout fund have reinvested in the 2006 fund with increased allocations.
Inflexion’s investment strategy is to provide between 35m and £15m in equity to proven businesses in growth market, in transactions valued between £10m and £50m. For this reason, the hard cap was maintained despite being oversubscribed.
Simon turner, managing partner at Inflexion said: “The excellent investor response to our fundraising reflects the strong performance of our investment team and the success of our strategy to date. We aim to build upon the success of the 2003 fund and to remain focused in the UK small mid-market, where ther is significant opportunity of outperformance.”
Inflection employs 17 staff and recent investments include the MBO of parasol for £24m, Viking Moorings for £22m and red Commerce for £15m.