Infinity, the private equity and property fund manager based in Manchester and London, has raised $200 million for its latest vehicle.
The firm said it had held a third close, and that 50 percent of the equity would target opportunities outside of the UK, both in mainstream private equity and real estate.
In a statement, the company added: “Despite exceptionally harsh market conditions, the Infinity team has bucked the trend.” It added: “While the fund is not constrained by location or sector, Infinity has stressed that it’s crucial that companies looking for investment have strong management teams, are already profitable and can indicate good growth potential.”
It will write out cheques of between £5 million (€5.8 million; $8 million) and £25 million. The enterprise values are likely to be between £10 million and £50 million, while the funds will be used to invest in facilitating business expansion with established companies that are seeking funding for development, acquisitions, refinancing or buyouts.
Daniel Finestein, managing partner called the fund a “major expansion” for Infinity as it focuses on larger and more international deals. “We’ve already announced our first deal with the purchase of the Manchester International Office Centre and are looking at a number of very exciting investment opportunities,” he explained.
Infinity has established an advisory board that includes high-profile industry names such as the former chairman of the British Venture Capital Association, Edmund Truell. Amongst other roles, Truell was behind the formation of Duke Street Capital and Pension Corporation.
Its first fund was launched in January 2007 by partners Finestein, Sarah Butler and Phil Vickers. Real estate, headed by property specialist Les Lang, launched a year later in 2008.