Kainos targets $750m for second fund

Kainos Capital previously raised $475m for its debut fund in 2013, beating its $400m target.

Kainos Capital has launched Kainos Capital Partners II, targeting $750 million, according to the firm’s 3 March filing with the US Securities and Exchange Commission.

The document indicated that the fund had yet to receive its first commitment as of the filing date, and that Lazard Freres & Company was acting as the placement agent for the fund.

In 2012, Kainos raised its debut fund, Kainos Capital Partners, targeting $400 million with a $500 million hard-cap, according to PEI’s Research & Analytics division. It held a first close on $100 million in September 2012 and a final close on $475 million in December 2013, according to PEI Research.

Sources close to the matter told Private Equity International that the bigger size of the second fund will not change the investment strategy, and that the first fund is almost fully invested.

The debut fund's investor base includes insurance company Allstate Investments, which committed $25 million, Dallas Police and Fire Pension System, which committed $35 million, and Canada Pension Plan Investment Board, which committed C$540.61 million ($542.59 million; €411.55 million), according to PEI Research.

Kainos is a consumer and food sector-focused firm that spun out from HM Capital, previously called Hicks, Muse, Tate & Furst, in early 2012, led by Andrew Rosen, Robert Sperry and Sarah Ashmore Bradley, as reported by PEI.

It seeks equity investments of between $50 million and $150 million in the food and consumer sector, with flexibility to invest more or less, according to its website.

Kainos currently manages $367.3 million in assets, according to PEI Research.