Mobeus Surpasses Target For Debut Institutional Fund

Mobeus Equity Partners is delighted to have raised £166 million at the final close of its debut institutional fund, Mobeus Equity Partners IV LP (“Fund IV or the Fund”), surpassing its initial target of £150 million.

Alongside Mobeus’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.

Fund IV will finance buyouts of growing UK private companies, investing between £5 million and £15 million 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 earlier this week, Mobeus announced that it had backed the buyout of Arc, a specialist engineering group. Another investment is currently in due diligence.

London-based Mobeus has a team of over 30 staff and is an experienced provider of growth and buyout finance to UK-based SMEs.

Ashley Broomberg, Partner at Mobeus, said

“We are delighted with the support we’ve received from our LP investors, who were attracted by our long-standing track record and reputation in the small-cap segment in the UK, our differentiated proposition and the scale and experience of our resource. The relative lack of competition in our space and our ability to consistently buy into great companies at value resonated well with investors, particularly in the US. Deal flow is currently strong in our market and we feel very confident about the first year’s investments.”

Mark Wignall, Managing Partner at Mobeus, said

“Fund IV has been a transformational project for Mobeus. After announcing our last closing at £140 million in May, we are delighted to have achieved a final close and also to have completed the Fund’s first four deals. We’ve raised Fund IV whilst also taking our VCT new investment programme forward strongly and filling out both our investment teams. We now have one of the strongest fund platforms investing in our segment of the market.”

Asante Capital Group acted as sole placement agent on the Fund with an experienced team led by Warren Hibbert and Laura Leyland.  MacFarlanes, led by Stephen Robinson and Henry Stewart-Brown, acts as legal adviser to the Fund. Langham Hall acts as fund administrator.

04 August 2017

04 August 2017