Mayfair raises for second fund in US and Europe

Oscar Geen
21 February 2018

Tweet
Facebook
LinkedIn
Google plus
Send to

Mayfair Equity Partners has attracted commitments from institutional investors in the US and Europe, according to publicly available documents.

The GP made an SEC filing listing commitments of $130m from US-based institutional investors (just under £94m at the exchange rate at the time) for Mayfair Equity Partners II, its latest buyout vehicle with a target of £600m.

Mayfair simultaneously filed details of a co-investment vehicle, Mayfair Equity Partners II Sidecar, with a £200m target. It had taken dollar commitments of slightly less than £37m for the sidecar.

Unquote has learned of seven LPs with commitments to the vehicle. The Universities Superannuation Scheme made a £100m commitment to Mayfair Equity Partners I and has backed the second vehicle. Dutch pension fund APG also returned after committing £40m to the first fund.

The European Investment Fund and Colorado Fire & Police Retirement Association approved the new fund after committing £29m and £15m last time respectively, and Swiss fund-of-funds Capital Dynamics has returned after previously making a £4m investment.

New LPs include Missouri's public school and education pension fund, PSRS/PEERS, and London-based fund-of-funds Pathway Capital Management.

Mayfair focuses on buyouts and expansion deals for UK-based companies in the TMT and consumer sectors. Its previous fund was 70% invested across six transactions as of January 2018.

Other UK-focused mid-market firms currently raising new funds include Exponent Private Equity, which launched its fourth fund with a €1.5bn target in July 2017, and Inflexion Private Equity, which closed its fourth fund on £650m in October 2014.