Fund placement case study
Fund C
Challenges facing the client:
- New team and identity established in 2001 with the launch of Fund I, a £120 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
Acanthus is a plant which grows vigorously and pervasively in Mediterranean countries, the leaves of which were admired by the ancient Greeks for their elegance. The design of the Acanthus leaf has been used as a stylized motif throughout history and its conventional representation frequently decorated Greek and Roman works of art and later those of Renaissance and Baroque artists. Of special note is its use in capitals of the Corinthian order.