UK private equity investor Graphite Capital, has completed the fundraising for its ninth fund, Graphite Capital Partners IX, securing capital commitments of over GBP470 million, slightly more than the GBP450m raised for its previous fund.
Graphite was able to reach its target quickly, with existing investors providing 75 per cent of the capital raised. In total, 25 investors have committed to the fund of which nine are new, attracted by Graphite’s strong performance over the past decade, its long-term track record and the stability of its team. The fund has a broad geographical spread, with 44 per cent of commitments coming from the UK, 40 per cent from continental Europe, and the remainder from the US and Japan.
Graphite will maintain its mid-market focus, investing primarily in companies with high growth potential, valued at between GBP30 million and GBP150 million. It will also invest in smaller companies with the potential to expand through the roll-out of new sites. The fund is likely to make between eight and twelve investments.
Graphite managing partner, Andy Gray, says: “We are delighted to have raised a fund of our target size so quickly at a time of political and economic uncertainty. We are particularly pleased to have received such strong support from continental European investors for a UK-only fund. Graphite has an excellent record of generating high returns in challenging environments and we are confident of seeing a range of exciting opportunities over the next few years.”
Managing partner Markus Golser, adds: “We remain committed to the mid-market. We have built up an excellent network of contacts over many years, have very strong deal flow and have developed an in-depth knowledge of how to grow mid-market companies across a broad range of sectors. The new fund is of the optimal size to allow us to address a wide range of deal sizes.”
