13 April 2015
EXPONENT PRIVATE EQUITY CLOSES NEW £1 BILLION FUND
Exponent Private Equity ("Exponent") today announces it has reached the final close of its new
£1 billion fund, Exponent Private Equity Partners III, LP (the "Fund").
The Fund will continue Exponent's successful investment strategy of investing in UKheadquartered businesses operating in the upper middle-market. It will target companies with
enterprise values between £75 million and £350 million which operate in a broad range of
sectors and markets.
The £1 billion of commitments raised for the Fund, which is the third fund raised by Exponent,
exceeded the £800 million target, and its final close on 10th April comes just three months after
its initial close in January. The previous fund, Exponent Private Equity Partners II, LP, closed
in January 2008 at £805 million.
The capital for the Fund was raised from a diversified group of leading investors from around
the globe. In particular, it attracted very strong support from public and private pension funds,
with 48% of the capital secured from these investors. 30% of the total capital was sourced from
limited partners based in North America, 18% from the UK, 51% from Europe and the balance
from Australia and Japan.
Commenting, Richard Lenane, a Senior Partner at Exponent Private Equity, said:
“We are delighted to have closed our third fund and to have received such an enthusiastic
response from investors. Exponent has a long track record of working with superb management
teams to create world class UK headquartered businesses, and we are looking forward to
continuing this successful strategy with this new fund. As well as enjoying support from our
existing investors, we are privileged to welcome a number of new blue chip investors. We
would like to thank them all for their support and will endeavour to continue delivering superior
returns by driving strong profit growth in our portfolio companies."
“On the back of the Trainline exit, the IPO of HSS Hire, and a new investment in Big Bus Tours,
we have already had an excellent start to 2015, and we are enthusiastic about building on the
success of our first two funds as we put this fund to work.”
Campbell Lutyens & Co. Ltd acted as exclusive global placement agent for the offering.
Exponent’s legal adviser was Debevoise & Plimpton LLP.
For more information, please contact:
FTI Consulting, PR for Exponent Private Equity
John Waples / Laura Ewart
020 3727 1515 / 020 3727 1160
john.waples@fticonsulting.com / laura.ewart@fticonsulting.com
About Exponent Private Equity
Exponent is a private equity firm investing in UK-headquartered businesses with enterprise
values between £75m and £350m. Its team, which has over 175 years of collective experience,
works with businesses across a broad range of sectors; seeking to unlock value and drive
growth by finding the right companies, identifying their potential and working with the right
people to develop them. The company’s aim is to make excellent returns for investors and
deliver profitable relationships for managers.
Exponent’s current portfolio includes: Quorn, the UK's leading meat alternative business;
Immediate Media, a media platform business and the third largest magazine publisher in the
UK; Fintrax Group, a global provider of VAT refund and dynamic currency conversion services;
Loch Lomond, a leading producer of malt, blended and grain whisky; and Big Bus Tours, a
provider of sightseeing bus tours.
www.exponentpe.com