Exponent gears up for fourth fund

The private equity firm filed registration documents for Exponent Private Equity Partners IV with Companies House on 30 June, with Debevoise & Plimpton representing the GP.

Exponent declined to comment when contacted by unquote".

The GP held a final close for its third fund on £1bn in the summer of 2015, exceeding its £800m target. The final close came shortly after the GP announced the vehicle's first close in January 2015. Campbell Lutyens acted as exclusive global placement agent for the vehicle.

The fund invests in UK companies with enterprise values of between £75-350m. The vehicle made its first investment in March 2014, when it acquired a majority stake in Loch Lomond Distillery.

The fund's predecessor, Exponent Private Equity Partners II, held its final close in January 2008 on £805m.

When unquote" talked to Exponent as part of our In Profile series, fund III was 35% invested across five deals as of November 2016. Since then, the GP has acquired Leisure Pass from Primary Capital in December and bought DCC Environmental in a £219m deal in April. It also sold Immediate Media to Hubert Burda in a £270m transaction in January this year.

Click here to view a complete profile of Exponent I, Exponent II and Exponent III, including a comprehensive list of LPs and their individual commitments, on unquote" data

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