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Graphite closes seventh UK mid-market fund on £475m16/05/2007. Source: AltAssets. 
 UK mid-market private equity firm Graphite Capital has closed its seventh fund, Graphite Capital Partners VII, on £475m. In addition, the firm also raised a co-investment fund of £80m for the purpose of investing alongside CP VII in selected larger transactions.
Graphite will continue to focus on the UK mid market and invest in transactions with an enterprise value of £20-200m.
A total of 39 investors have committed to the new fund. Commitments came from the UK (39 per cent), Continental Europe (36 per cent) and the US/Japan (25 per cent).
Including Graphite Enterprise, the quoted investment trust also managed by the firm, Graphite now has funds under management of over £1.2bn.
Graphite senior partner Stephen Cavell said, 'Despite being significantly over-subscribed, we have imposed our own hard cap on the size of the fund, so we can focus on the most attractive companies in the current highly competitive environment for making new investments.'
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