Lion Capital closes fund on $1bn

Lion Capital, the London-headquartered private equity firm formerly known as Hicks Muse (Europe), has closed its debut fund on $1bn.

The firm, led by Lyndon Lea officially changed its name earlier this year. Fund raising took around 18 months following the team’s gradual move away from Hicks Muse’s US operation. The decision was taken last year when the group announced it was altering its compensation structure so that carry would be split in the different geographies. Further details on the fund raising are undisclosed.

The firm recently acquired UK noodle bar chain Wagamama from its majority shareholder, Graphite Capital in a secondary buyout transaction, valuing the business at £102.5m.