European fund manager Star Capital Partners has closed its third private equity fund at €800m.
Backed by a diversified range of global investors in Europe, North America and Asia, Star Strategic Assets III LP will focus on backing European companies that provide an essential service to customers or users, and consistently generate stable, long term returns.
The fund is already actively deploying capital and has completed two investments to date:
– Synergy LMS, a carve-out of the linen management services business from a large US corporate. It provides outsourced services to hospitals and other healthcare providers throughout the UK.
– Globalways, a Stuttgart based IT services and infrastructure business providing data storage, distribution and access requirements to customers across regional Germany.
Established in 1999 and fully owned by its partners, Star is a specialist investor in and developer of strategic asset-based businesses in Western Europe.
Ut has invested circa €1 billion of equity across 18 businesses, representing over 70 acquisitions including add-ons.
The firm is based in London.