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Graphite Capital nears first close for latest fund

16 Jul 2013

pounds11_sqUK mid-market private equity firm Graphite Capital is reportedly nearing a first close for its eighth fund.

The firm has been pre-marketing the fund in recent months and expects to reach the fund’s £475m target over the summer, said PEI media.

Graphite closed its previous fund, Capital Partners VII, on £475m in May 2007.

Graphite invests in companies with enterprise values of £25m to £200m. The firm manages more than £1.2bn across three private equity funds.

The firm’s recent deals included the exits from Aberdeen-based oilfield services company Dominion Gas for a return of 2.3 times and from care home group Optimum Care, which was sold to buyout firm Terra Firma-owned Four Seasons Health Care.

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