Friday 11th April 2008
Darwin’s first fund raises £207 million
Private equity firm Darwin has closed its inaugural fund with commitments of £207 million. The fund, which is targeting £250 million, is planning a final close ‘over the coming months’, according to partner Jonathan Kaye.
The fund invests in UK-based businesses with enterprise values of between £10 million and £100 million. It completed its first investment in December with the acquisition of sports nutrition supplier Maximuscle.
Darwin has also announced two new additions to its team. David Coombs has joined the firm from Morgan Stanley, where he was an associate in the investment banking division, while Paul Burton, a former investment manager at mid-market firm PPM Capital, joins Darwin next month.
Harjinder Hatfield retains her current role as head of fundraising for Darwin’s subsequent funds as well as becoming part of the investor relations team.
Darwin was founded last year by Derek Elliot and Kevin Street, both formerly of Permira, and Jonathan Kaye, formerly of CVC.
Nick Britton
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