Oakfield Capital Partners launches £20m fund

OCP started marketing the fund at the end of 2012 and hopes to complete its fundraising by Q4 2013. The fund will have a five-year investment period.

The vehicle will allow its investors to qualify for tax relief under the government-backed Enterprise Investment Scheme (EIS).

Since the firm was founded in 2008, OCP has invested in five companies, which together employ more than 250 people. To date, OCP has raised £23m to invest in those five investee companies.

OCP's portfolio includes speciality petroleum producers Coryton; commercial waste bin manufacturers Taylor; e-commerce platform Ingresso; Michelin-starred restaurant group Jolly Fine Restaurants and parking/storage service Secure Parking & Storage.

Investors
The fund will typically attract professional clients, mostly UK taxpayers. However, certain overseas clients who benefit from the scheme will join as well. The minimum subscription is set at £50,000.

Investments
Oakfield UK Special Situations Fund will invest £2-5m per transaction in six to eight SMEs which need both finance and management support during a two-year period.

OCP will set aside a maximum of 20% of aggregate commitments for follow-on funding.

OCP stated it invests in companies that can be transformed through business improvement, add-on acquisitions and accelerating organic growth, rather than through financial engineering.

There are three to four deals currently in the pipeline, the GP told unquote".

People
David Pitman is a partner at OCP. Brett Hochfeld is an associate at OCP.

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