Lonsdale closes maiden buyout fund on £110m

The GP has invested on a deal-by-deal basis since 2008, but started raising a closed-ended fund nine months ago due to "demand from existing and potential new investors".

TMR Strategic acted as placement agent for the fundraise, while King & Wood Mallesons acted as legal adviser.

Investments
Lonsdale will make equity commitments of £10-15m for majority stakes in European companies with enterprise values of £10-50m.

The GP has made nine investments across a variety of sectors to date. Most recently, it acquired Spanish superyachts refit service Global Yachting Group in an MBO.

Lonsdale has also made two exits, making a 4.5x return from the sale of offshore container business OEG Offshore in 2012 and divesting Dublin-based publishing company CJ Fallon to US private equity firm Levine Leichtman Capital Partners in March 2015.

Investors
Commitments to the fund were drawn from new and existing LPs from across Europe and the US. Pension funds, funds-of-funds and family offices account for around 80% of total commitments, with the remainder coming from high-net-worth individuals and Lonsdale's partners.

People
Lonsdale – Alan Dargan, Ross Finegan, David Gasparro (founders).

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