Elysian Capital has held a first close of its third fund, having raised 90 per cent of the fund’s target of GBP 300 million in three months, since officially launching the fund.
The final close is expected to be completed in the next couple of months from investors already well advanced in the process, according to the lower mid-market firm.
Elysian Capital’s third fund has received commitments from existing as well as new investors from Europe and the US. The Elysian team continues to invest in their own funds, having contributed GBP67 million across its three funds to date.
With a GBP26 million commitment to its latest vehicle, which makes up 8.6 per cent of Elysian Capital III, it is one of the largest team commitments in the private equity market by percentage of fund size.
In the last 12 months Elysian has completed two exits at 4.3x and 4.5x capital, as well as three new platform investments.
The fund aims to leverage the Elysian Capital investment team’s expertise in “acquiring, nurturing, building and growing companies in the UK and Ireland lower mid-market.”
Several of the fund’s investors have a strong interest to co-invest alongside Elysian, thereby expanding the fund’s firepower for new opportunities, said the firm.
Elysian’s portfolio includes Wellbeing Software, Kelling Group, Fastflow Group and Sambro.