Elysian Capital, a UK mid-market private equity firm, has set a target of £200m (US$34m) for its debut fund, which is expected to reach a first close by Christmas.
Elysian Capital I has reportedly already raised £55m through an unnamed anchor investor and a £25m allocation from the firm’s general partners, which includes Elysian founder and Doughty Hanson co-founder Ken Terry.
The fund is expected to reach a final close next summer.
Elysian made its first deal in April this year with the management buyout of The Landscape Group, a landscaping and horticultural specialist trading as English Landscape, in which it invested approximately £13m. Debt was provided by Lloyds TSB Corporate Markets. A bolt on-acquisition, Banyard, involved a reported further contribution of £1.3m.