UK private equity firm Exponent closes 1 bln stg fund — Reuters

(Reuters) – UK private equity firm Exponent closed a new 1 billion pound fund, the company said on Monday.

Public and private pension funds committed 48 percent of the capital in the Exponent Private Equity Partners III, which had a target of 800 million pounds, the company said in an emailed statement.

Exponent said the fund will target UK-headquartered businesses with enterprise values between 75 million pounds ($109.39 million) and 350 million pounds. ($1 = 0.6856 pounds) (Reporting By Mamidipudi Soumithri in Bengaluru; Editing by Anupama Dwivedi)