Epiris raises over £1 billion for Fund III
Epiris is pleased to announce the final close of Epiris Fund III (“Fund III” or “the Fund”) with total commitments of £1.044 billion. The Fund had a target of £850 million and was oversubscribed at its hard cap.
Fund III is 27% larger than its predecessor Fund II, which closed at £821 million, thanks to demand from new and existing investors globally, backing Epiris’ proven, all-weather strategy.
Fund III comprises commitments from a large number of the world’s leading private equity investors, including public and private pension funds, endowments and foundations, asset managers and private investors. The Fund’s investor base is truly global, originating from across North America, the United Kingdom, Continental Europe, Japan and Australia.
Fund III has already deployed more than 20% of its total capital across four investments, the most recent being the acquisition of GSF, a leading supplier of aftermarket automotive parts. It has also completed the acquisitions of Pure Cremation, the leading provider of prepaid funeral plans in the UK, LoneStar, a supplier of high-performance fasteners to the world’s energy markets, and Delinian, a global B2B information services business.
Epiris will continue to invest in opportunities to transform businesses in partnership with exceptional management teams. The firm focuses on identifying and resolving the complexities which hold businesses back, providing fresh capital and thinking to reposition businesses strategically and in terms of scale and growth. The firm targets UK and international businesses with an enterprise value of between £75 million and £500 million, deploying between £40 million and £150 million of equity in each investment.
Alex Cooper-Evans, Partner of Epiris, said:
“We could not be more pleased to have brought this fund raising to such a successful conclusion. We are hugely grateful to our investors, both new and longstanding, who have entrusted us with their capital. It’s a source of great excitement, and testament to the hard work and discipline of the whole Epiris team, to be able to build strong partnerships with some of the world’s leading investors in private equity.”
Alex Fortescue, Managing Partner of Epiris, said:
“We are obviously delighted that so many investors not only share our view of the opportunity to bring positive transformational change to businesses, but also have chosen to support our team and our strategy. We have already made four investments for Fund III, all archetypical Epiris deals in every respect. We have an exciting pipeline and see exciting opportunities to deploy the fund in both today’s environment and the years ahead.”
Campbell Lutyens acted as placement agent and financial advisor. Clifford Chance and Carey Olsen acted as the fund’s legal counsel.
For Epiris LLP please contact:
Greenbrook Advisory
Peter Hewer, Daniel Oliver
+44 (0)20 7952 2000
About Epiris
Epiris is a top-decile* private equity firm which invests in opportunities to transform businesses in partnership with exceptional management teams. It targets control positions in UK-headquartered businesses with an enterprise value of between £75 million and £500 million, deploying between £40 million and £150 million of equity.
Epiris’ current investments include GSF, a leading UK supplier of aftermarket automotive parts; Pure Cremation, the leading provider of prepaid funeral plans in the UK; LoneStar, a supplier of high-performance fasteners to the world’s energy markets; Delinian, a global B2B information services business; Sepura, a leading global provider of digital radio systems for mission-critical applications; Inchcape Shipping Services, one of the world’s largest maritime services providers; Appello, a leading technology-enabled care provider; Stuart Turner, a producer of pumps and water-boosting products for residential and commercial uses; Sharps, the UK’s leading supplier of bespoke fitted bedroom furniture; The Big Table, a leading UK restaurant operator; Nucleus, an investment platform; Diamorph, a supplier of advanced material solutions for demanding and safety-critical applications; Bonhams, the global auction house; The Club Company, the UK’s largest country club operator; and Portals, one of the world’s leading manufacturers of document security features.
For further information, please visit www.epiris.co.uk.
Issued by Epiris which is authorised and regulated by the Financial Conduct Authority.
*As at 30 September 2023. Comparator data supplied by Preqin. Past performance is no guarantee of future results.