UK - Sovereign completes 5.5x exit from schools and nurseries business

Sovereign Capital has recouped 5.5x its money from the sale of Alpha Plus Holdings Ltd, a group of independent schools, colleges and nurseries. The business has been acquired by Delancey, a specialist investment advisor, for an undisclosed sum. The investment generated an IRR of 53% on Sovereign's five year holding period. This is the fifth exit from Sovereignт€™s first Fund which, together with previous exits, has returned an average multiple of 5x and an average IRR of 69% (realised returns). The fund contains seven further investments.