Oakfield Capital Partners (OCP), a private equity firm specialising in investing in small and mid-sized British businesses (SMEs), has held the first close of its UK Special Situations Fund with firm commitments of GBP6m.
Achieving a successful first close will enable OCP’s UK Special Situations Fund to invest in SME businesses which need both finance and management support to realise their full potential.
Oakfield targets SMEs whose potential has not been realised and which qualify for tax relief under the Government-backed Enterprise Investment Scheme (EIS). New investments will join OCP’s existing stable of five companies in which it has invested since the firm was founded in 2008.
OCP partner David Pitman (pictured) says: “We are delighted to have reached the first close of Oakfield’s UK Special Situations Fund with commitments of GBP6m. The current financial climate has proved to be a challenging fund raising environment for the private equity sector in general. We are pleased to welcome new investors to Oakfield and look forward to continued investment in good quality SMEs –a vital part of the British economy.”
To date OCP has raised GBP23m to invest in its five investee companies.
Oakfield will continue fundraising until the final close of the fund at the end of September. The minimum subscription is GBP50,000.
