Pollen Street closes third fund on £400m

The total committed exceeds the vehicle's £350m target, with the fund having held its first close in March 2016 on £120m.

The vehicle has deployed 53% of its available capital, a statement by the investor confirmed.

Investors
PSC Fund III raised commitments from new and existing investors. According to Unquote Data, LPs in the fund include Adams Street Partners, Berger van Berchem & Cie, Coller Capital, DB Private Equity, Partners Group, PineBridge Investments Europe, Randolph Street Investment Partners and Seligman Private Equity Select.

Investments
The vehicle will target lower-mid-market deals in the European financial services sector. The fund's investments to date include specialist lender Shawbrook Bank, payment technology company Cashflows, direct lending business 1st Stop Group, SME and real estate lender Capitalflow, software provider Visionblue Solutions, insurance broker Miles Smith, and international payment provider Foreign Currency Direct.

People
Pollen Street Capital – Lindsey McMurray (managing partner); Magnus Christensson (partner, head of fundraising and IR).

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