ISIS closes fifth fund on £360m
ISIS Equity Partners has closed its fifth vehicle ISIS V on £360m.
ISIS closed its previous fund – its first as an independent firm – on £238.5m in 2007.
The GP invested £3.7m in day nursery operator Happy Days last week. ISIS also reaped a 15x money multiple and 69% IRR when it sold UK-based online retailer Wiggle to Bridgepoint for £180m in December last year.
Investors
The fund's LP base comprises insurance companies, funds-of-funds and pension funds. Investors stem from the UK, Europe, the US and Asia.
Two thirds of LPs in ISIS IV renewed their commitment to the latest vehicle.
Investments
ISIS V will follow its predecessor's investment strategy, targeting growth equity and buyout transactions of UK businesses valued in the £20-75m range. ISIS usually invests £2-30m of equity per transaction.
People
ISIS's 32-strong team is headed by managing partner Wol Kolade.
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