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AltAssets is the private equity news and research service from Almeida Capital
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PRINT THIS PAGE Lyceum Capital closes first independent fund above target on £255m11/02/2008. Source: AltAssets. 
UK mid-market private equity firm Lyceum Capital has closed its new fund - the first since the team's May 2006 MBO from WestLB - on £255m. Lyceum Capital Fund II had an original target of £200m. The new fund held a first closing on around £180m in May 2007.
Commitments came from 22 institutions and family offices, including six existing investors, from the Benelux region, Switzerland, France, North America, Scandinavia and the UK. Investors include AXA Private Equity, GIMV, AP2, AlpInvest, F&C Group, EIF and Pohjola Private Equity Funds.
Lyceum Capital Fund II invests in service companies headquartered in the UK.
Lyceum chief executive Philip Buscombe said, 'We are pleased to have exceeded our fundraising target with the continued support of current investors and a number of leading private equity investors from the UK, US and Europe who are investing with Lyceum for the first time. We are seeing an increased flow of opportunities and continue to enjoy strong support from our banking partners.'
The team's previous fund, LCF I is almost fully committed now, the firm told AltAssets.
Since May 2006, Lyceum has completed 16 acquisitions (two new platform acquisitions and 14 add-on acquisitions) and exited four investments.
Copyright © 2008 AltAssets
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