August Equity targeting early-2020 close for fifth fund

The fund was registered in July 2019. Unquote understands that the target fund size will be higher than the fourth-generation fund, while the vehicle will continue to follow the same strategy as its predecessors.

Unquote understands many existing investors will re-up for this fund, but the vehicle is also looking to diversify its investor base.

Macfarlanes is providing legal advice on the fund, according to Unquote Data.

The firm mainly invests in UK-based SMEs. The fund's predecessor, August Equity Partners IV, closed on £224m in April 2017 and recently made its 10th acquisition. Unquote understands that the fund is expected to finish investing imminently.

August Equity Partners III is currently in its realisation phase, exiting its sixth asset in November 2019. The firm made five exits in 2018, realising £1.1bn. The fund closed on £200m in December 2013.

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• Topics
• Funds
• Buyout
• UK / Ireland
• August Equity LLP
• United Kingdom