Coniston Capital (“Coniston”) is pleased to announce that it has successfully held the first close of its maiden fund, Coniston Capital I LP, at £24m and expects to complete its fund raising by the end of 2021.
Coniston will use its committed capital to focus on the underserved small MBO market, investing up to £5m into UK SMEs with profits greater than £250k. With a strong pipeline of opportunities, Coniston anticipate making their first investment from this fund shortly.
Amit Hindocha, Partner, comments: “We are very pleased to have achieved this key milestone, especially given the headwinds of the last year. We believe in our investment thesis, a belief which is also shared by a high calibre group of LPs that are backing us. We now look forward to helping support the growth of SMEs across the UK.”
Stephen Grabiner, Non-Executive Chairman, added: “Coniston is addressing a clear funding gap within the UK private equity market. After this successful first close, the team is well positioned to help management teams to realise untapped value.”
Stephenson Harwood, led by Sarah de Ste Croix and Arooj Khan, act as legal adviser to the Fund. Langham Hall act as fund administrator.
