AGU Private Equity, an early backer of firms like Quorn and Maplin, has raised a €2.75bn warchest to pursue more deals.
The London-based outfit, which was spun out of HSBC in 2003 and started out investing in the early 1970’s, raised the cash from investors including US pension funds and sovereign wealth investors.
The pool of cash is the fifth time the group has raised a buyout fund. The fourth fund raised €2.55bn from investors in 2011 and the third raised €2.26bn in 2005.
Montagu invests in the mid-market, buying European and UK companies in deals worth between €100m and €1bn.
“We are delighted to have completed the fundraising in such a timely manner, although, as always, we see the success of this process as a testament to the hard work we have put in over many years to give our investors a track record of consistent and competitive returns across economic cycles,” Montagu chief executive Jason Gatenby said.
The fund held a so-called first close, a cut-off point after which the group can start investing the cash, at the end of June having raised €2.2bn.
The fundraise is a record haul for the group. Montagu’s second fund, raised in 2002, generated £1.2bn of commitment while the maiden fund comprised ad-hoc investments between 1994 and 2001.