London, UK-based growth investor Mobeus Equity Partners raised £166m at the final close of its debut institutional fund.
Mobeus Equity Partners IV LP surpassed the initial target of £150m. Alongside the firm’s existing VCT business, Fund IV brings the firm’s total private equity funds under Management to nearly £400 million.
Mobeus Fund IV has now received commitments from twelve international blue-chip investors, across private and public pension funds, foundations, asset managers and family offices. Just over two thirds of commitments have been from Europe with the remainder coming from the US.
It will finance buyouts of growing UK private companies, investing between £5m and £15m initially in each transaction. With four deals completed in the first 12 months since holding its first close, the Fund is over 20% invested.
New investments so far are:
– the MBO of Kinneir Dufort, one of the UK’s principal design and innovation consultancies;
– the MBO of Factor 21, a fast-growing UK provider of invoice finance facilities for SMEs;
– the MBO of Ludlow Wealth, a financial planning business; and
– the buyout of Arc, a specialist engineering group.
Another investment is currently in due diligence.
Led by Ashley Broomberg, Partner, and Mark Wignall, Managing Partner, Mobeus has a team of over 30 staff and is an experienced provider of growth and buyout finance to UK-based SMEs.
22/06/2017: Mobeus Equity Partners Closes Fund IV, at over £140M