Synova Capital has backed the management buyout of financial services company Defaqto from previous backers FF&P Private Equity and Foresight Group for £24.25m.
EQT IX is expected to be 70-75% invested following the deal
Previous fund held a final close in 2012 with capital commitments of USD 840m
MoU marks LBO France's first foray into the Chinese market, with plans to open a local office
ECI bought the asset from Phoenix less than three years ago