Kester Capital, a UK lower mid-market private equity firm, has held the final close of its latest fund, Kester Capital III, which was oversubscribed, at its hard cap of £200m, significantly in excess of its original £150m target.
In line with Kester Capital II, the strategy for the fund remains focused on investing in primary buyouts in the healthcare and technology sectors.
Kester’s previous two funds have delivered three consecutive exits with a return over 4x and seven consecutive exits with a return over 3x. The company’s most recent exit from Jollyes, announced earlier this month, delivered a return of 4.2x.
The new fund attracted new institutional investors from the US, Europe and the UK alongside support from existing investors.
Kester Capital has committed 10% of the fund’s carry to the Kester Foundation, which was established in 2022, to support a range of charities and not-for-profit organisations.
