Oakfield Capital Partners launches £20m fund

Karin Wasteson
06 March 2013

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Oakfield Capital Partners (OCP) has launched its Oakfield UK Special Situations Fund, targeting ТЃ20m.

OCP started marketing the fund at the end of 2012 and hopes to complete its fundraising by Q4 2013. The fund will have a five-year investment period.

The vehicle will allow its investors to qualify for tax relief under the government-backed Enterprise Investment Scheme (EIS).

Since the firm was founded in 2008, OCP has invested in five companies, which together employ more than 250 people. To date, OCP has raised £23m to invest in those five investee companies.

OCP's portfolio includes speciality petroleum producers Coryton; commercial waste bin manufacturers Taylor; e-commerce platform Ingresso; Michelin-starred restaurant group Jolly Fine Restaurants and parking/storage service Secure Parking & Storage.

Investors
The fund will typically attract professional clients, mostly UK taxpayers. However, certain overseas clients who benefit from the scheme will join as well. The minimum subscription is set at £50,000.

Investments
Oakfield UK Special Situations Fund will invest £2-5m per transaction in six to eight SMEs which need both finance and management support during a two-year period.

OCP will set aside a maximum of 20% of aggregate commitments for follow-on funding.

OCP stated it invests in companies that can be transformed through business improvement, add-on acquisitions and accelerating organic growth, rather than through financial engineering.

There are three to four deals currently in the pipeline, the GP told unquote".

People
David Pitman is a partner at OCP. Brett Hochfeld is an associate at OCP.