PE firm ECI Partners raises 500 mln stg for tenth buyout fund: Reuters

British private equity firm ECI Partners said it raised 500 million pounds ($823 million) for its tenth buyout fund, mainly from existing institutional investors.

The PE firm had planned to raise 400 million pounds when it launched the fundraising in April.

ECI Partners has now raised over 1.6 billion pounds of external capital since it was launched in 1976.

ECI 10, as the new fund is known, will focus on making buyouts with an enterprise value of between 10 million pounds to 150 million pounds, the company said.

The company said on Thursday that 80 percent of the funds raised came from its existing institutional investors. ($1 = 0.6076 British pounds)

(Reporting by Esha Vaish in Bangalore; Editing by Sriraj Kalluvila)