Capdesia Structured Equity targets £100m; aims to close in Q1 2021

Katharine Hidalgo
14 October 2020

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Capdesia Structured Equity Partners is currently raising towards a target of £100m and aims to hold a final close in the first quarter of 2021, according to a source close to the situation.

In May 2020, a source close to the situation told Unquote that the firm had delayed fundraising, but still expected to hold a final close in September. The GP was expected to resume conversations with LPs in June, in the wake of a number of opportunities emerging in the sector due to the coronavirus crisis, said the source.

However, Unquote understands the fundraise was postponed throughout the summer due to the firm's focus on the recapitalisation of sushi chain Wasabi and its investment in udon restaurant chain Marugame.

The firm is said to have kept in touch with prospective LPs and has one or two investments in the pipeline. At the time of launch, the firm expected 70% of its commitments to come from European investors.

The fund was registered and launched in May 2018 with a target of €200m. It will look to invest in the European food services sector, especially in the UK, Benelux, the Nordic region, Germany, France and Spain. The firm invests €10-30m in each portfolio company and has the option to structure transactions with a mix of equity and debt.

Capdesia declined to comment.