DH Private Equity scraps Fund VI plans, shuts shop

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DH Private Equity Partners is set to wind down its fundraising and investment business, following previous reports it was planning to raise a new fund.

The London-based firm announced the end of its private equity strategy in an email to investors seen by WSJ Pro.

DH was reportedly looking to raise between €1bn and €1.5bn for its first fund since 2007, after registering the vehicle with the financial regulator in Luxembourg.

Plans for its sixth fund were scrapped on a previous occasion in 2015, following the death of the firm’s co-founder Nigel Doughty in 2012.

Its predecessor fund closed on €3bn in May 2007, two years after Fund IV closed on €1.6bn.

The firm changed its name from Doughty Hanson last year, after undergoing an executive restructure. The firm was founded in London by British bankers Doughty and Richard Hanson, who raised a £167m fund in 1990.

DH Private Equity targeted market leading businesses in Northern Europe with enterprise values between €200m €600m in the industrial, services, consumer and healthcare sectors according to its website.

It’s current portfolio include logistics services provider ASCO, prefabricated concrete business KP1 and air fresheners and insecticide devices company Zobele Group.

Late last year, the PE house scrapped plans for an IPO of business and compliance services portfolio company TMF Group, instead agreeing a €1.75bn sale to global buyout giant CVC.

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