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As the countdown to the UK’s in-out vote over membership of
the European Union continues, private equity managers are anticipating
a difficult first half to 2016.
With the pound falling by 5 percent against the dollar in
the past 12 months, in-depth analysis is carried out to ascertain whether UK-focused
fundraising has held up.
According to data from PEI Research & Analytics, the
momentum of 2014-15 has continued, with $1.42 billion raised in the first four
months of 2016. The largest of the four vehicles to close during this period
was MML Capital Partners Fund VI, a $483 million buyout fund.
This compares with $1.7 billion raised in the first four
months of last year – a period dominated by the final close of the $1.52
billion Exponent Private Equity Partners III.
There are currently 32 UK-focused funds in market, four of
which aim to raise in excess of $500 million. Oakley Capital Investments’
third flagship vehicle is the most ambitious, with a target size of $827
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