Ashurst advises Inflexion on double fund raising

Ashurst advised Inflexion Private Equity on the simultaneous first and final closings of two new private equity funds.

Inflexion Buyout Fund IV and Inflexion Partnership Capital Fund I were raised in a parallel process over just five months, securing commitments of £650m and £400m respectively. Both funds were over-subscribed and closed at their hard caps after receiving strong support from existing investors as well as attracting new investors from the US, Asia and Middle East.

Over 35 blue chip investors have committed to the two funds, including state and corporate pension plans, insurance companies and sovereign wealth funds. In keeping with previous fundraisings, Ashurst and Inflexion closed both funds on timetable, at the hard cap and without the support of a placement agent.

The Ashurst team was led by funds partner Piers Warburton and included partner Alexander Cox (Tax), counsel Alastair Ladkin (Tax), associates Alastair King (Funds), Jake Green (Regulatory) and Louise Dobbin (Regulatory) and trainees Kim Mai Nguyen and Ghislaine Lawless, with US tax, securities law and ERISA issues being handled by partners Steven Kopp, Margaret Sheehan and Tae Jeon.

Commenting on the deal, Piers Warburton said "This has been a rapid and highly professional fund-raising, which has demonstrated the commitment of Inflexion's investors to their successful buyout and partnership capital strategies. The Ashurst investment funds team is proud to have worked with Inflexion on establishing their investment funds for over 10 years".