Mayfair Equity Partners raises £650m

The London-based private equity firm closes second fund above target.

Mayfair Equity Partners has held a final close of Mayfair Equity Partners II at its £650 million ($847 million; €745 million) hard-cap, surpassing its target by £50 million. Through its second fund, the firm will continue to pursue UK-based businesses operating in TMT and consumer sectors.

APG Asset ManagementCapital DynamicsCity of Zurich Pension FundHighGround Advisors are among the investors in the fund.

Mayfair Equity Partners I held a final close in September 2016 at £400 million.

The firm did not use a placement agent for Fund II.