Challenges facing the client:
- New team and identity established in 2001 with the launch of Fund I, a €170 million lower mid-market UK fund
- Fund I was largely raised from US investors who remained highly supportive
- The General Partner was keen to attract high quality investors to broaden its investor base
- Fund I was performing strongly with a number of realisation opportunities having arisen already. However, given the significant upside still remaining for its investors, realisations had yet to be made
Acanthus’ role:
- Worked closely with the team in anticipating investors’ information requirements
- Provided advice on preparation of offering materials including due diligence material
- Devised and executed a targeted and focused fundraising strategy leading to some 45 initial meetings with potential investors
- Arranged/coordinated over 200 follow up & due diligence meetings
Conclusions:
- 78% of initial meetings led to further due diligence; 50% of investors going into detailed due diligence committed to the Fund
- Fund significantly oversubscribed by a wide range of top quality international investors