Englefield to begin mid-market investment

The recently-established UK private equity house has held a strong final close at E660m for its European mid-market investment fund.

Englefield Capital, the private equity house set up last year by former Warburg Pincus partner Dominic Shorthouse, has surpassed expectations for its first fund, closing on E660m.

 

At the time of the launch of The Englefield Fund in May, the firm set itself a target of E450m which it has exceeded by almost 50 per cent. Englefield has not disclosed details about the fund’s investors, although its main sponsor is Bregal, a subsidiary of Cofra Holding, the Switzerland-based family holding company.

 

Englefield will primarily focus on investments in the UK, France and Germany, although opportunities will be considered beyond these three. It will look to make equity investments of E20m to E50m in mid-market companies with enterprise values of E50m to E400m. Current areas of interest include business services, particularly outsourcing and recruitment, renewable energy and retail financial services, although the fund’s first investment is not expected for a few weeks.

 

Englefield’s other founding partners comprise Etienne de Villiers, Eric Walters, Adam Barron and Edmund Lazarus, who have a mixed background of private equity and operational experience. De Villiers joins the firm after 16 years at Walt Disney where he was most recently President of the entertainment group’s European, Middle East and African operations.

 

“We will invest in sectors where the experience and expertise of our partners allows us to understand the key commercial issues,” said Shorthouse, who is managing partner of the fund. “We felt it was important to ensure that we had a mix of private equity and business professionals among our partners.” The firm is hoping to establish an Affiliates Fund, a concept frequently used in the US, which will bring together between 50 and 100 entrepreneurs who will invest on preferential terms in return for access to their sectoral expertise.