Cabot Square to launch sixth fund in 2019

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Cabot Square Capital is planning to launch its sixth buyout fund in 2019, Unquote understands.

It is understood the vehicle will have a target in the region of £300m, with the predecessor fund, Cabot Square Capital V, having held a final close on £304.5m in May 2016.

It is understood the fund will typically write equity cheques of £10-60m, though it will have the capacity to make larger investments.

The fifth vehicle received commitments from LPs including pension funds, funds-of-funds, endowments, foundations and asset managers. According to Unquote Data, the highest commitments made to the fifth vehicle came from BBC Pension Scheme, Willis Towers Watson and Colorado Health Foundation, which committed £50m, £23.6m and £23.5m respectively.

Cabot Square typically focuses on financial services businesses and operating property assets. It is understood the GP anticipates 75-80% of the new fund will be invested in financial services companies.

Cabot Square Capital VI will predominantly focus on UK assets, Unquote understands, though it will also make selective investments in continental Europe.