Darwin Private Equity, a lower mid-market UK firm, has held a third close of its debut fund with commitments totalling £207 million.
Darwin launched its fundraising in May 2007 and is targeting £250 million of total commitments.
The firm has also made two hires taking the investment team to seven. David Coombs has joined from Morgan Stanley, where he was an associate in the investment banking division.
Paul Burton joins in May 2008 from PPM Capital, where he was an investment manager focused on mid-market buyouts.
Darwin has also confirmed to investors that Harjinder Hatfield will continue in her current role as head of fundraising for Darwin’s subsequent funds as well as becoming part of the investor relations team.
Darwin was founded in 2007 by Derek Elliott and Kevin Street, both formerly of Permira, and Jonathan Kaye, formerly of CVC Capital Partners.
The firm’s strategy is focused on investing in UK based businesses with enterprise values of between £10 million and £100 million. In December 2007, Darwin completed its first investment with the acquisition of Maximuscle, a sports nutrition company.