Preservation Capital Partners Fund I holds first close

The fund held its first close in Q4 2019 towards a target of £350m.

Acanthus Advisers is acting as placement agent.

Investors
British Columbia Investment Management, which is also a direct investor in some of Preservation's portfolio companies, is an LP.

To date, PCP I has mainly institutional investors from both North America and Europe.

Investments
The fund currently has two assets in its portfolio: insurance broker BMS; and Optio, an insurance technology provider.

The firm expects to have five or six portfolio companies once fully deployed and is targeting a more concentrated strategy focused on fast-growing businesses within the financial services sector across Europe, Unquote understands.

PCP targets equity cheques of £20-100m per investment, but can provide larger tickets where co-investors are involved.

People
Preservation Capital Partners – Jatender Aujla (partner).

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