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UK - Zeus reaches final close of maiden fund on £100m+

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Zeus Private Equity (ZPE) has reached the final close of its maiden fund on more than ТЃ100m. Manchester-based ZPE was launched in December 2006 and held a second close in June 2007 on ТЃ65m. Most recent investors in the fund include Access Capital Partners, Macquarie Investment Management, New Star Private Equity Investment Trust Plc, and an additional local authority pension fund. The new player was founded by three former Aberdeen Murray Johnstone Private Equity investment partners. Gary Tipper is the managing partner alongside partners Ed Fazakerley and Tony Dickin.

ZPE is focused on investing in companies based in the UK regions that have strong regional brands or franchises and are capable of being developed into national businesses. The typical target company has an enterprise value of up to £50m, requiring an average equity investment of between £5m and £10m. The firm has completed two deals already, having funded a new company set up to carry out a buy-and-build strategy in the UK regional hotel sector, and taken a majority stake in Morecambe-based online floral and gifting company, Flowers Direct.

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