Electra Partners closes £100m fund

Electra Partners LLP has held the final closing of its Electra Partners Club 2007 fund reaching its target of £100m. The fund will inveest alongside Electra Private Equity plc in opportunities mainly in the UK and Western Europe. Electra now has EUR1bn of capital available for investments. Finanical institutions, pension funds and family offices from the US, UK and Europe commited to the fund.

The fund will concentrate on mid-market buyouts but will also consider expansion investments, mezzanine funding and real estate investments. The investments will range from £20-70m in transactions with an enterprise value of between £50-300m.

The fund has already made two investments: £63m to support the £246m buyout of Kingfield Heath, an office supplies operator in the UK and Ireland in June last year; and a £34m investment which backed the £83m buyout of ventilation systems manufacturer Nuaire, based in Caerphilly, Wales.

Nick Benson of Clifford Chance provided legal advice. David Symondson, partner at Electra Partners, and Alex Cooper-Evans led the fundraising. (Page 05).

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