Kennet Partners Seeks $350M For Growth Equity

Firm: Kennet Partners

Fund: Kennet IV

Target: $350 million

Placement Agent: Capstone Partners

Kennet Partners is out fundraising for a $350 million growth equity fund, three sources told sister Web site peHub. Capstone Partners is the placement agent, the sources said.

Founded in 1997, Kennet has offices in London and Foster City, Calif. The firm’s last fund, Kennet IIIcollected $315 million in 2008. Kennet focuses on companies in technology, services and digital media across Europe and North America, according to the firm’s Web site.

Kennet is considered a growth/technology buyout firm with a split European and U.S. strategy, one person said. The firm typically invests $10 million to $100 million of equity per deal, the Kennet Web site says.

Kennet has previously invested in Prolexic Technologies. Last year, the firm provided $25 million to WorldOne, which supplies data collection services to the health care industry.

Capstone declined to comment, while Kennet Partners did not return calls.

(Luisa Beltran is a senior writer for peHub.)