Phoenix hits first close on £250m

It is understood the fund was formally launched late last year, although sources suggest the GP has been in conversations with LPs for much longer.

Indeed, the UK-focused private equity house has had a quiet 12 months in terms of primary investments, with its last platform deal – Bridge Leisure – completed in January 2015. It has however, been working on several bolt-on deals for its existing portfolio companies. 

The new vehicle follows on from its predecessor, Phoenix Equity Partners 2010, which closed in June 2010 on £450m, surpassing its £375m target.

Investments
The new fund will continue Phoenix's investment strategy of targeting small and medium-sized UK companies with enterprise values of between £30-150m.

People
Phoenix Equity Partners – James Thomas (managing partner).

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