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Phoenix, Sirius invest £100m in LK Bennett22/07/2008. Source: AltAssets. 
 UK mid-market private equity firm Phoenix Equity Partners and branded goods-focused investment firm Sirius Equity have agreed to invest in English fashion brand LK Bennett. Financial terms were not disclosed, but the size of the investment was believed to be between £80m and £100m, according to a source close to the deal.
As part of the deal, Sirius co-founder Robert Bensoussan will join LK Bennett as chairman. Company founder Linda Bennett will remain as a non-executive director and a substantial shareholder of the business, according to a statement.
LK Bennett operates 90 stores and concessions throughout the UK. The company has over 700 employees.
Phoenix and Bensoussan have invested in partnership before, in branded consumer businesses Jimmy Choo and Radley.
David Burns, partner, Phoenix, said, 'We are delighted to have the opportunity to work in partnership with Robert Bensoussan again and to invest alongside Linda Bennett in LK Bennett. We are confident that there is significant potential to continue to expand the business rapidly.'
Bensoussan added, 'LK Bennett has developed an incredibly strong brand through the hard work of Linda and her team over many years. We believe there is an exciting opportunity to develop the business and the brand further and we are excited about the opportunity to help the company realise its fantastic potential.'
The investment in LK Bennett is the tenth investment from Phoenix's £375m Phoenix Equity Partners 2006 Fund. Last month the firm invested £21.5m in UK restaurant chain Busaba Eathai.
Sirius was founded earlier this year by Bensoussan and Jim Sharp to focus on the branded luxury goods and retail sectors. In May of this year, the firm, together with Stirling Square Capital Partners, backed the MBO of Bologna-based sportswear company Jeckerson.
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