Englefield Capital, the private equity firm set up by former Warburg Pincus professional Dominic Shorthouse and backed by Cofra, the Swiss-based office managing the wealth of the Brenninkmeijer family, has held a final close of its debut fund, The Englefield Fund, on E700m.
The fund held a first close on E660m in January, largely thanks to a E495m commitment from Cofra. Additional institutional investors include AXA Private Equity, the Dutch Shell Pension Fund and Delta Lloyd.
“Our strategy is to stay small, and to focus on attractive sectors where we have identified strong management teams that will benefit from favourable fundamental trends in the sector in which they operate,” said the fund’s founding partners Dominic Shorthouse in a statement.
Englefield Capital was formed in 2002 by Shorthouse, Etienne de Villiers, Eric Walters, Adam Barron and Edmund Lazarus. The firm 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.
In addition, Englefield Capital has finalised arrangements for its Affiliates Fund which has secured commitments from approximately 150 individuals, most of whom are business leaders in the UK, Western Europe and the United States. “The composition, seniority and experience of the Affiliates Fund will simply make us a lot better in finding proprietary deals and guide us in our due diligence,” said Shorthouse. The size of the Affiliates Fund has not been disclosed.
Separately, has established an advisory board that will review the sectors the partners have identified as attractive. Together with the founding partners of Englefield, Louis Brenninkmeijer and Yves de Balmann of Bregal, the Advisory Board includes broadcaster Sir David Frost, former Warburg Pincus senior partner Ed McKinley and former Gartmore Investment Management chairman Paul Myners.