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Inflexion Private Equity, the mid-market private equity investor, today announces that it has successfully completed the fundraising for its new 2006 Buyout Fund at £165m. Inflexion’s funds under management are now £300m. The Fund was raised without a placement agent, achieving its target within 6 weeks, and closing at the hard cap.
The fund was raised from a total of 14 blue-chip investors from the UK, Europe and the US, comprising pension funds, fund of funds and other institutional investors. All of the LPs from Inflexion’s current 2003 Buyout Fund have invested in the 2006 Fund with an increased allocation.
Despite the fund being oversubscribed, the hard cap was maintained to retain the firm’s focus on the smaller end of the UK mid-market. Inflexion’s investment strategy is to provide on average between £5m and £15m equity to proven businesses in growth markets, in transactions valued between £10m and £50m. This strategy has proved profitable for the firm’s investments from the 2003 Buyout Fund.
Simon Turner, Managing Partner at Inflexion commented that, “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 midmarket, where there is significant opportunity of outperformance. We look forward to working with our new investors, as well as continuing our excellent relations with our existing LPs.”