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Former 3i execs close Exponent debut fund on £400m

Exponent Private Equity, a UK-based buy-out firm co-founded by former 3i director Tom Sweet-Escott, has closed its debut fund on £400m after just five months of fundraising.

'We are very pleased with the support we have received from investors, particularly as we were raising our first fund at a time when some of the established names appear to be finding it hard going,' said Exponent co-founder Richard Campin.

Exponent will target upper mid-market investments in companies with an enterprise value of between £50m and £250m. The fund will primarily invest in the UK, but may invest up to 20 per cent of the total capital raised in Continental Europe on an opportunistic basis.

Sweet-Escott, Campin and their partners Chris Graham and Hugh Richards left 3i in October last year. Campin previously led the firm's buy-out team in France, Graham was responsible for media investments and Richards oversaw 3i's relationships with industrialists.

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