Cairngorm Capital Fund I raises $76.7 mln

Cairngorm Capital has closed its maiden fund at 50 million pounds (US$76.7 million). Acanthus was the placement agent. London-based Cairngorm is the firm founded by former H.I.G. Capital executive Andrew Steel. The private equity firm will target companies in industrial and business-to-business markets in the UK lower mid-market.

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