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UK Gresham announces first close at £153m17/12/2003. Source: AltAssets. 
 UK private equity firm Gresham has announced a first closing on its third fund at £153m. The fund has received commitments from 11 institutional investors so far and is targeting £200m.
‘We are delighted that Gresham III has reached this interim close so quickly, particularly in the current environment, and we are now rapidly approaching our £200m target,’ said Paul Marson-Smith, chief executive of Gresham.
Gresham invests in lower mid-market UK management buy-outs with deals ranging from £5m to £75m. Recent deals include the management buy-out of IT support services firm 2escape2, the expansion funding of 1st Credit, and the buy-out of Altair Filter Technology.
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