Bowmark raises £375m

The fund, Bowmark Capital Partners V, was raised in just 10 weeks, having been launched in October 2013.

According to unquote" data, Bowmark's previous fund, Bowmark IV, which closed in January 2008 on £265m, was oversubscribed and raised in just four months.

Investments
Bowmark will continue targeting mid-market companies with enterprise values of up to £100m, with typical tickets sizes sitting between £10m and £20m. Its preferred sectors are business services, leisure, healthcare services, media and IT services.

Investors
According to a filing with the Securities and Exchange Commission (SEC), the fund received investments from 22 institutions, with 49% of capital coming from Europe, 34% from the US, 8% from the UK and 9% from elsewhere.

Pension funds commited 38% while insurance companies invested 21%. Funds-of-funds contributed 16% and another 16% came from other financial institutions with the final 9% from endowments and family offices. 

People
Charles Ind and Kevin Grasby are joint managing partners of Bowmark.

Advisers
King & Wood Mallseons SJ Berwin acted as UK legal adviser and Ropes and Gray as US legal adviser. 

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• Topics
• Funds
• Fundraising
• Buyout
• UK / Ireland
• Bowmark Capital LLP
• United Kingdom