Alcuin holds closing on new Fund

Alcuin Capital Partners LLP has reached a closing with £81 million of commitments on its third private equity fund, The Third Alcuin Fund LP. Alcuin makes £2-10 million growth capital and buyout investments in UK companies valued between £5 and £30 million across all sectors.

The team, led by Mark Storey and Grace Henderson-Londoño, who together founded Alcuin in 2002 after leaving BancBoston Capital, have made investments in successful companies such as Caffè Nero, one of the UK’s fastest growing retail food and beverage franchises, and Adapt, one of the UK’s fastest growing hosting and managed services companies.

The Third Alcuin Fund has already made two investments: the first in Agrivert, a leading organic waste recycling and waste-to-energy company, and the second in AudioGo, the UK’s leading audiobook publisher which was recently acquired from BBC Worldwide.

The fund is backed by a diverse group of institutional investors and family offices, including Alliance Trust Equity Partners, the European Investment Fund, Parish Capital Advisors, RenditeWertBeteiligungen (RWB) and a leading UK insurance company. Alcuin expects to hold a final closing on the fund, which has a target of £100 million by the end of 2011. Elm Capital Associates Ltd is acting as exclusive placement agent.