A former investor in the likes of On The Beach has closed its latest fund worth £2.5bn.
Inflexion Private Equity, which has UK offices in London and Manchester, has closed its Inflexion Buyout Fund VI which was "strongly supported" by existing investors.
The new fund will follow Inflexion’s strategy of backing high growth, entrepreneurial businesses led by "ambitious management teams" to accelerate growth.
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The firm added that the increased size of the fund will allow it to acquire companies in the UK and Europe with an enterprise value of up to £1bn across the core sectors of business services, technology, healthcare, industrials, consumer and financial services.
The close follows a record year for Inflexion in 2021 with eight realisations returning £1.6bn to investors, 12 new investments and 97 portfolio acquisitions.
Chris Wright, partner and head of Inflexion's Manchester office, said: "Inflexion has long seen the potential of the North with a number of high growth businesses backed by ambitious management teams.
"Last year saw a record year for the team in the region, with five investments, two exits and 23 portfolio acquisitions.
"Inflexion has long admired the entrepreneurial spirit in the North, and has partnered with some exceptional management teams over the years.
"Our local team works closely with Inflexion’s sector and value acceleration teams in the UK and across the world, meaning that the support and opportunities for the companies that we partner with are unparalleled.
"We look forward to investing further in our Northern team and continuing to partner with local businesses in this dynamic region."
Managing partner Simon Turner added: "We are exceptionally proud of the sustainable value we create within our portfolio for our stakeholders.
"The investor support is a testament to the returns we have delivered and their belief in our ongoing ability to continue to do so.
"The resilience shown by our portfolio over the last two years reflects the hands-on collaboration we foster with management teams, while our recent successful exits underline the strength of our value acceleration strategies.
"A number of our longstanding investors have backed our strategy for over two decades and we are incredibly grateful for their continued support."
