Lion Capital closes on €820m

The European private equity spinout from Hicks Muse Tate & Furst has closed its first independent fund on €820m.

Lion Capital, the London-headquartered private equity firm formerly known as Hicks Muse (Europe), has closed its debut fund on €820 million ($990 million), according to a source close to the firm.

The new firm, headed up by Lyndon Lea, officially changed its name in April 2005. Lion Capital had been raising the fund for a number of months, following its gradual move away from the US operation.

The process towards becoming an independent entity began last year when Hicks Muse Tate & Furst announced that it was altering its compensation structure so that carry would be split down strict geographical lines.

The firm acquired UK noodle bar chain Wagamamas on Monday this week, paying £102.5 million to UK midmarket firm Graphite Capital.