AMJPE closes first round on latest fund

The UK mid-market private equity firm is said to have had a first round close at £60m.

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Aberdeen Murray Johnston Private Equity (AMJPE), the UK private equity firm that specialises in investing in domestic mid-market companies and which has recently made a virtue of its lack of exposure to the IT sector, is reported to have had a first close for its latest fund of £60m.

AMJPE's preceding fund closed at £68m in total. For the vehicle, the firm has set a final target of £100m.

A source close to the firm said that AMJPE had started to market the fund in spring of this year and that many investors in its earlier funds had come back for more. Although the vast majority of the funding came from UK pension funds, institutional investors from the US, Canada and the Middle East have all invested.

AMJPE is keen to play to its strengths and the latest fund therefore saw no change in terms as investors were briefed on the 'more of the same' investment approach it intended to take.