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Palamon closes Palamon Auxiliary Partnership 2013

Palamon Capital Partners has closed the Palamon Auxiliary Partnership 2013 and its co-investment programme with commitments of EUR210m. 

 
The Auxiliary Fund is structured with a two year investment term.  Palamon will use The Auxiliary Fund exclusively for new investments, enabling it to maintain its historic annual investment rate for new deals of EUR100m. 
 
The fund will pursue control equity investments of EUR15m to EUR80m in mid-market growth services businesses across Europe. 
 
The fund received commitments from a diversified group of over 20 investors including fund-of-funds leader Adams Street Partners, the corporate pension plan of Honeywell, private equity investors AlpInvest Partners and Quilvest and the endowment of Spelman College.  This pool of immediate use capital represents a significant share of the only EUR1.6bn raised for European growth capital investment in the last year.
 
Louis Elson, managing partner of Palamon Capital Partners, says: “We could not be more pleased that our core investors supported us in this innovative funding structure.  We applaud them for their creative thinking and thank them for their confidence in us and our proven investment strategy.  Taken together with the remaining capital in our predecessor fund, we have EUR270m to invest over the next two years.  We expect to have a significant impact on the growth equity market in Europe which continues to suffer from restricted capital.   We are seeing many compelling opportunities in our space.” 
 
Since inception, Palamon has completed 33 investments in ten countries. Its portfolio of growth companies currently includes Cambridge Education Group, a pre-university education group based in the UK; Retail Decisions, a fraud prevention provider for card-based transactions; SARquavitae, the largest residential elderly care corporate in Spain; and OberScharrer Group, an ophthalmic healthcare business in Germany. 

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