Endless closes fourth fund on £525m

According to Darren Forshaw, founding partner of Endless speaking to unquote", the fund took around two months to raise.

The new fund is significantly larger than its predecessor, which, according to unquote" data, closed on £220m in July 2011. Forshaw said the new fund will broadly stick to Endless's typical deal sizes, targeting companies that generate turnover of between £100m to £500m, however, the GP now has the option to write tickets of up to £80m.

Investors
The fund received commitments from university endowments, family offices and foundations. The Endless team represents the largest single investor in the fund. Investors hailed from Europe, the US and China.

Investments
The fund will seek to acquire mid-market companies with turnover typically between £10m and £500m, through buyouts, non-core acquisitions and turnarounds. It will predominantly target investments in the UK, as well as the rest of Europe. The vehicle will acquire companies through all-equity transactions, funding deals entirely from its own resources.

Forshaw said it is likely the new fund will do more credit-led deals, as well as continuing buyout and turnaround transactions.

People
Garry Wilson and Darren Forshaw are founding partners of Endless.

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• Topics
• UK / Ireland
• Buyout
• Endless
• United Kingdom