Primary Capital achieves final closing of First Fund at £61 million
Primary Capital announces the final closing of its first fund, the Primary Capital No I Fund, at a level of £61 million ($100 million) including a £25 million co-investment facility. The investors, which total 19, comprise international banks, life companies, corporate pension funds, trusts and high net worth individuals. The UK accounted for 40% of funds, North America 49% and continental Europe 11%.
The fund’s objective is to provide superior returns, principally through investment in UK-based companies at transaction values of between £5 million and £50 million, although transactions of up to £100 million will be considered. The fund will mostly take majority stakes in companies that can achieve premium returns.
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