Piper to launch next fund in 2021

Managing partner Chris Curry told Unquote the fund is expected to target £150-175m.

The consumer-focused firm is currently deploying Piper Private Equity VI, which closed on £125m in October 2016. The fund invests in consumer brands in UK-based retail, leisure and consumer products and services companies within a target revenue of £5-50m, deploying an investment ticket of £5-25m.

The fund's assets include speciality retailer Bloom & Wild, gym class provider Frame and phone accessory manufacturer Mous.

LPs in the firm's sixth fund include Adams Street Partners with a commitment of £15m, Argentum with a commitment of £12m and BMO Global Asset Management with a commitment of £5m.

The news comes as the consumer sector faces severe challenges relating to coronavirus-related lockdown measures, as well as the wider implications of the recession on consumer spending.

Particularly hard-hit sectors could be gyms and restaurants and bars, as previously reported by Unquote. The firm owns stakes in restaurants and bars such as Turtle Bay, Loungers and Flat Iron.

Amala Partners have acted as placement agent on several of Piper's previous funds.

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