Inspirit closes debut fund on £50m

The fund closed on its hard-cap and has not yet made any investments. Domiciled in the UK, the fund is structured as a UK limited partnership.

A spokesperson for the firm told Unquote that the fund's management fees, carry and hurdle rates are in accordance with market standards. 

In the coming months, the firm expects to expand its team, which currently consists of partners Will Stamp and Albert Farrant.

Mishcon de Raya provided legal advice and KPMG provided tax advice.

Investors
The fund has a consortium of institutional investors, including fund-of-funds, US-based endowment funds and pension funds. All LPs are based in either Europe or North America.

Investments
The fund will write equity cheques of £2-10m.

Inspirit will make control investments in UK-headquartered businesses with revenues greater than £20m and enterprise values of up to £50m, including acquisition finance.

The firm has a target holding period of three to five years and focuses on providing financing for carve-outs, buy-and-build strategies and distressed situations.

The fund has a number of opportuntiies in its pipeline, according to a spokesperson.

People
Inspirit Capital – Will Stamp, Albert Farrant (founding partners).

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