YFM holds £60m first close for sophomore buyout fund

The total committed has already surpassed the £45m raised by Buy-Out Fund I and is just £15m below its target of £75m. Buy-Out Fund II is targeting a final close by the end of 2019.

As was the case for the first fund, the new vehicle will look to be deployed across a two- to three-year period. The predecessor is now more than 70% invested.

Investors
Around three quarters of the capital committed to the new vehicle is from existing LPs, while £15m came from new investors including family offices and high-net-worth investors. All of its LPs are UK-based, with Kent County Council Superannuation Fund and Nottinghamshire County Council Pension Fund making commitments, according to Unquote Data. Its predecessor's LPs also included City of London Pension Fund.

Investments
Buy-Out Fund II will invest £3-7m per transaction for controlling stakes in UK-headquartered companies. Its predecessor recently supported the management buyout of protein supplements producer The Protein Works.

People
YFM Equity Partners – David Hall (managing partner); Mike White (partner, investor relations).

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