Coniston Capital is pleased to announce that it has had a final close of its maiden fund, Coniston Capital I LP, at its hard cap of £40m, surpassing its target of £30m.
Coniston will use this capital to continue to focus on the underserved small-cap MBO market, investing up to £7m into UK SMEs with profits greater than £500k.
Coniston backed the MBO of Masterfix, one of London’s leading property maintenance companies, in September 2021 and anticipates making the second investment from this fund shortly.
Amit Hindocha, Partner, comments: “We are proud to have successfully closed Coniston Capital I LP with such a high-quality investor base and we would like to thank all of our Limited Partners for their ongoing support. We now look forward to working with more ambitious management teams and delivering returns for our investors.”
Stephen Grabiner, Non-Executive Chairman, added: “The oversubscription of the fund is testament to the strength of our team and a reflection of the support for our investment thesis. Coniston is addressing a clear funding gap within the UK private equity market and is well positioned to support the growth plans of management teams.”
Stephenson Harwood, led by Sarah de Ste Croix and Arooj Khan, act as legal adviser to the Fund. Langham Hall act as fund administrator.
