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Inflexion Private Equity today announces the successful first and final close of Inflexion Buyout Fund IV and Inflexion Partnership Capital Fund I, securing commitments of £650m and £400m respectively.
Both funds were oversubscribed and closed at their respective hard caps within just five months of launch, after receiving overwhelming support from existing LPs and attracting new investors from the US, Asia and the Middle East. Investors committing to the funds comprise a leading group of over 35 blue chip investors including state and corporate pension plans, insurance companies and sovereign wealth funds. In keeping with previous fundraisings, Inflexion closed both funds on timetable and without the support of a placement agent.
The new funds will follow the same strategy of Inflexion’s previous funds, investing between £15m and £75m in high growth, entrepreneurial businesses led by ambitious management teams and partnering with them to accelerate growth. Inflexion’s new Partnership Capital Fund is the first dedicated minority fund focused solely on the UK mid-market. Raising this fund enables Inflexion to capitalise on the demand from entrepreneurs to access private equity investment whilst retaining control of their business and builds on Inflexion’s established track record of generating value from such investments.
Simon Turner, Managing Partner at Inflexion commented, “We greatly appreciate the commitment of our investors. Their resounding support for our buyout and partnership capital strategy reflects the quality of our team and track record, of which we are exceptionally proud, and the enduring attractions of the UK mid-market. We are delighted to retain a large number of longstanding investors, many of which have now supported Inflexion for well over a decade.”
The closing of these two funds follows a record 12 months for Inflexion in which the firm invested in five businesses and exited a further four, including the successful IPO of FDM Group which generated a 16.2x return. In December, Inflexion realised the final investment from its 2003 Fund bringing that fund’s overall return to 3.9x and placing it amongst the best in Europe for that vintage. Recently Inflexion has also strengthened its investment team with a number of high profile, senior hires.