UK-based private equity direct-secondary firm Azini Capital has raised a new $100 million fund. The new fund, Azini 3, will acquire shareholdings in growth and development stage technology companies or portfolios, providing historical investors and shareholders with an option for early liquidity.
Azini Capital, the UK based private equity direct-secondary firm, has today announced that it has successfully raised a new $100 million fund. The new fund, Azini 3, will acquire shareholdings – individually or as portfolios – in growth and development stage technology companies, providing historical investors and shareholders with an option for early liquidity.
Lexington Partners, the leading global independent manager of secondary private equity funds, has worked with Azini since 2005 and has agreed to provide the majority of the investment for the new fund.
The Azini 3 fund builds on the success of the firm’s first two funds: Azini 1 which was raised in 2007 and Azini 2 which was established in 2010 to acquire a portfolio of investments from Apax Partners. Lexington was a major participant in both funds.
Nick Habgood of Azini Capital disclosed, “Over the past 3 years Azini Capital has sold portfolio companies with more than $1.25 billion of enterprise value. Both Azini 1 and Azini 2 are fully returned and both funds continue to hold investments with significant potential.”
The investment criteria for Azini 3 is similar to that for Azini’s previous funds – to acquire greater than 10% holdings in businesses which have more than $10 million of revenue and have a clear plan for the future.
Michael Bennett of Azini Capital explained: “Once we have acquired an initial shareholding we are then able to invest fresh capital into the company to accelerate its performance and maximize the potential for a successful exit. Access to additional capital from a new investor can be very attractive to management and the remaining shareholders.”
About Azini Capital
Azini Capital is an independent private equity fund management company which specialises in “direct-secondary” transactions – acquiring portfolios of shareholdings in private and public companies from existing and historical investors. Azini Capital liberates value by providing portfolio companies with the additional time and/or fresh capital required to realize maximum value.
For more information visit: www.azini.com or contact Nick Habgood, Managing Partner, Azini Capital Partners LLP, [email protected] 020 3178 3381.
About Lexington Partners
Lexington Partners is a leading global alternative investment manager primarily involved in providing liquidity to owners of private equity and other alternative investments and in making co-investments alongside leading private equity sponsors. Lexington Partners is the largest independent manager of secondary acquisition and co-investment funds with more than $22 billion in committed capital. Since 1990, Lexington has acquired over 2,200 secondary and co-investment interests through 475 transactions with a total value in excess of $30 billion, including $10 billion of syndications. Lexington also invests in private investment funds during their initial formation and has committed to more than 200 new funds in the U.S., Europe, and the Asia-Pacific region. Lexington currently employs more than 80 people and has offices strategically located in the major centers for private equity investing – New York, Boston, Menlo Park, London, and Hong Kong. Lexington also has senior advisors located in Asia, Australia, and Latin America.
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