Keensight Capital has closed its fifth pan-European growth buyout fund at a hard cap of 1 billion euros, beating its target of 750 million euros. The fund’s limited partners include asset managers, pension funds, insurance companies, banks and sovereign wealth funds as well as former portfolio company CEOs and family offices. Park Hill was the placement agent.
Keensight Capital, one of the leading private equity managers dedicated to pan-European Growth Buyout investments, announces the first and final closing of its new fund, Keensight V, at the €1 billion hard cap, exceeding the fund target of €750 million.
The fund was substantially oversubscribed with strong support from existing LPs, as well as new investors from Europe, North America, the Middle East and Asia. The globally diverse LP base for Keensight V comprises c. 90% of subscriptions from institutional investors (asset managers, pension funds, insurance companies, banks and sovereign wealth funds), and c.10% from former portfolio company CEOs and family offices.
With its new Growth Buyout fund, Keensight Capital will continue to pursue its consistent and successful investment strategy: partnering with passionate entrepreneurs on growth investments, while targeting profitable and rapidly growing companies across Western Europe with revenues between €15 million and €250 million.
The Keensight team of 30 people, which comprises 11 different nationalities, will pursue investments across Western Europe between €20 million and €200 million. The team’s expertise is particularly strong in the Information Technology and Healthcare sectors. Keensight focuses on partnering with established and high potential companies, and adopts a flexible partnership approach to majority and minority shareholder positions.
Since its creation 20 years ago, the team has invested in 52 companies and successfully completed 37 exits, generating an overall gross IRR of 39% and an average gross multiple of 2.8x. Keensight’s portfolio companies have achieved an average sales annual growth rate of 22% over the last 5 years and an average EBITDA margin of 26% in 2018.
Jean-Michel Beghin, Managing Partner at Keensight Capital, said:
“This €1 billion fund consolidates Keensight Capital’s position as a leading European Growth Buyout firm. This size will allow us to enhance our continuous improvement plan through the strengthening of both our team and sourcing process. This major fundraising success demonstrates the value our investors have seen in our differentiated positioning and the discipline of our team. We are delighted by the support we received from our existing investors, and are pleased to welcome new investors to the fund.”
Keensight was advised by Park Hill as placement agent.
 Growth Buyout: investment in profitable, private companies experiencing strong growth, in minority or majority positions, with or without leverage, using a flexible approach tailored to the needs of individual entrepreneurs, in order to finance organic growth projects, acquisition strategies or provide historic shareholders with liquidity
About Keensight Capital
Keensight Capital, one of the leading European Growth Buyout firms, is committed to supporting entrepreneurs as they implement their growth strategies. For 20 years, Keensight’s team of seasoned professionals has leveraged their knowledge of investment and growth industries to invest for the long term in profitable companies with high growth potential and revenues in the range of €15 million to €250 million.
Drawing on its expertise in the Information Technology/Internet and Healthcare/Wellbeing sectors, Keensight identifies the best investment opportunities in Europe and works closely with management teams to develop and achieve their strategic vision.