Electra Partners closes £100m fund

01 July 2008

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Fund

Electra Partners LLP has held the final closing of its Electra Partners Club 2007 fund on its target of £100m. The fund will invest alongside Electra Private Equity plc in opportunities, mainly in the UK and Western Europe. Electra now has EUR1bn of capital available for investments over the next few years. Clifford Chance provided legal advice. No placement agent was involved.

Investors

The investors were financial institutions, pension funds and family offices from the US, UK and continental Europe. Minimum subscripition and management fees have not been disclosed. The GP contributed an undisclosed sum.

Investments

The fund will concentrate on mid-market buyouts but will also consider expansion investments, mezzanine funding and real estate investments. The investments will range from £20-70m in transactions with an enterprise value of between £50-300m. The fund has already made two investments: £63m in the £246m June 2007 buyout of Kingfield Heath, an office supplies operator in the UK and Ireland; and £34m in the £83m buyout of ventilation systems manufacturer Nuaire, based in Caerphilly, Wales.Electra Partners has a flexible approach to investments that is not sector or type specific.

People

Nick Benson provided legal advice on behalf of Clifford Chance. David Symondson and Alex Coopa-Evans led the fundraising for Electra.

Name: Electra Partners Club 2007

Target: £100m

Focus: Buyouts, expansion, mezzanine

Contact: David Symondson

Address: Electra Partners LLP, Paternoster House, 65 St Paul's Churchyard, London EC4M 8AB, UK

Tel: +44 20 7214 4200

Fax: +44 20 7214 4201

Advisers

Clifford Chance (Legal).