NVM closes Private Equity Vintage III
NVM Private Equity has announced that it has raised £142 million for its debut Institutional Fund. NVM Private Equity Vintage III has received commitments from a diverse set of high quality investors across Europe and North America.
NVM is a long established investor in the UK, with a track record of generating top quartile returns. NVM’s presence in each of the UK’s five key financial centres provides deep local knowledge, insight and unique access to a diverse range of investment opportunities. The investment team will continue the firm’s strategy of backing high quality incumbent management teams across a broad range of industry sectors.
NVM Private Equity Vintage III will invest in growing UK regional businesses investing between £5 million and £15 million in each transaction. The Fund has already completed its first two deals, acquiring a majority stake in Dale Power Solutions for £9.0 million and secondly an £8.2 million investment in Flexioffices. Both businesses operate in highly attractive markets with clear catalysts to growth.
NVM Private Equity Vintage III will complement NVM’s existing VCT business bringing total funds under management to approximately £440 million. With 44 portfolio companies across all funds, NVM remains an active participant in each of the UK’s five key regional communities. During the last 12 months, NVM has completed 11 investments across a wide range of sectors and deal types including management buy-outs, development capital and scale-up capital. NVM has also exited four companies generating an overall money multiple in excess of 2.5x.
Martin Green, Managing Partner of NVM Private Equity said: “The NVM team is delighted that such an international and blue-chip investor base shares our vision for investing in the highly attractive UK, regional SME market place. We thank our investors for their support and look forward to working with them to build a portfolio of companies that will once again deliver top-quartile returns.”
Source: NVM Private Equity Press Release