Tenzing Private Equity holds final close on £200m

Kenny Wastell
18 January 2017

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Lower-mid-market GP Tenzing Private Equity has held a final close for its maiden fund on its ТЃ200m hard-cap after three months on the road.

Tenzing Private Equity I closed £50m above its £150m target, with the GP saying in a statement the fund was oversubscribed.

Evercore Private Funds Group acted as global placement agent for the fundraising process.

Tenzing was founded in 2015 by Robert Jones and Guy Gillon, both formerly partners at Bluebird Partners. In March 2016, Tenzing recruited former Inflexion Private Equity partner Christian Hamilton as co-managing partner, before appointing HgCapital founder Ian Armitage as non-executive board member five months later.

Investors
The vehicle attracted commitments from institutional investors including UK, European, and North American endowments, family offices, funds-of-funds, asset managers, private banks and insurance companies.

According to publicly available documents obtained by unquote" data, the largest commitments to date have come from Adveq, Ohio State University, University of California Berkley Foundation and Bregal.

Investments
Tenzing I has a generalist remit and will target buyout investments in UK businesses valued at £10-50m.

The GP has previously executed three investments on a deal-by-deal basis. Most recently, it backed the £30m buyout of FMP Global, the payroll division of Bond International Software.

For further details on Tenzing I visit the dedicated fund profile on unquote" data.

People
Tenzing Private Equity – Guy Gillon, Christian Hamilton (managing partners); Robert Jones (founding partner).