OpCapita LLP said Sept. 6 that it closed its second fund at its 350 million euro ($390.8 million) hard cap. The fund has a five year investment period and is focused on investing in underperforming businesses in the consumer, retail and leisure sectors in Europe. Monument Group Europe LLP acted as placement agent, while Fried Frank and Mourant Ozannes provided legal advice, and Ipes acted as fund administrator.
London, 6 September 2016: OpCapita LLP (“OpCapita”), the European private equity partnership, today announced the final closing of its second fund, OpCapita Consumer Opportunities Fund II LP (“the Fund” or “Fund II”), at the hard cap of €350 million. The Fund is focused on investing in underperforming businesses in the consumer, retail and leisure sectors in Europe.
Fund II, which was significantly oversubscribed, received strong support from a diverse group of global investors, including pension funds, endowments, Fund of Funds, family offices and charitable foundations, predominantly from the US and Europe. It has a five year investment period.
Henry Jackson, Founder and CEO of OpCapita, said: “The closing of our second fund is an important milestone in the continued development of OpCapita at a time of significant opportunity in the consumer markets across Europe. For the last ten years our dedicated senior team of operating and financial professionals has focused on driving improvements at underperforming businesses through operational change in order to deliver long-term, sustainable value for our investors. This new fund creates an exciting platform for the future, and we look forward to investing it on behalf of our Limited Partners.”
OpCapita closed its first dedicated fund, OpCapita Consumer Opportunities Fund LP, on €110 million in December 2014 after attracting investment from 11 prominent global institutional investors. The Fund had a two year investment period and made three investments: NKD, the German discount clothing retailer which it acquired in March 2014, La Sirena Alimentación Congelada, the leading Spanish frozen food retailer which it acquired in December 2014, and AppelrathCüpper, the leading designer womenswear retailer which it acquired in May 2016.
Monument Group Europe LLP acted as placement agent for the Fund. Fried Frank and Mourant Ozannes provided legal advice, and Ipes is acting as fund administrator.
Founded in 2006, OpCapita is a European private equity firm specialising in the retail, consumer and leisure industries. OpCapita actively invests in companies where there is an opportunity to deliver improvements in profitability and create long-term, sustainable value.
OpCapita’s team of in-house operating partners has decades of experience in consumer-facing businesses and a widespread network of contacts and specialists. The team adopts a hands-on approach to the companies in which it invests, drawing on exceptional management talent to deliver on its investments.
Over the past ten years, OpCapita has invested over €450 million in businesses in the UK, France, Germany and Spain. OpCapita closed its first dedicated fund, OpCapita Consumer Opportunities Fund LP, at the end of 2014.