Electra Partners is pleased to announce the final closing of a new £100 million fund raised to invest alongside the capital of its principal client Electra Private Equity plc, in private equity opportunities mainly in the UK and Western Europe. Following this fundraising, Electra Partners expects to have €1 billion to invest over the next few years, making Electra well-placed to take advantage of investment opportunities when market conditions improve.
This fund will complement the investment activities of Electra Partners in the private equity sector. These activities concentrate on mid-market buy-outs but also encompass other private equity investments such as development capital, mezzanine and real estate. Typical investments range from £20 million to £70 million in transactions with an enterprise value of between £50 million and £300 million.
David Symondson, a Partner of Electra Partners said:
"Raising this new fund marks an important step in our return to the investment market. We are now well-positioned to be an active player in the mid-market buyout sector over the coming years."
The fundraising was conducted in-house by Electra Partners and Clifford Chance acted as legal advisers.
Recent transactions by Electra Partners on behalf of its clients include:
The $2.5 billion sale of Dakota Minnesota & Eastern Railroad to Canadian Pacific Railroad realising $72 million (20 times the original 1986 investment) for Electra; a $556 million refinancing of Allflex, completed just prior to the change in market conditions in August 2007, where $82 million was re-invested in the livestock identification company; and the £246 million buyout of Kingfield Heath, a leading office supplies operator in the UK and Ireland.