Dunedin private equity trust moves to lower mid-market

The Dunedin Enterprise Investment Trust, which is managed by private equity house Dunedin, has announced a change in its investment strategy after shareholders voted to refocus the London main market-listed fund to the lower mid-market.

The private equity trust’s portfolio will be ‘progressively refocused’ to the UK’s lower mid-market buy-outs where the trust has invested directly or through funds managed by its investment manager, Dunedin, according to a statement from the firm. The trust will not make further commitments to managed funds by other private equity fund managers across Europe, but will meet its existing fund commitments to third party managers.

Shaun Middleton, managing director at Dunedin, comments that the decision aligns the trust with the firm’s overall target market.

He adds, ‘This is great news and demonstrates a clear vote of confidence in Dunedin by the trust’s shareholders; a continuing commitment to Dunedin as a fund manager and a recognition of our strengths in the lower mid-market.’

Dunedin provides equity finance for management buy-outs, management buy-ins and high-growth businesses with an enterprise value typically in the region of £20 million to £75 million. It is an independent private equity house, owned by its directors and staff, operating throughout the UK from offices in Edinburgh and London.

In 2006, it raised a £250 million buy-out fund amd also manages the quoted private equity investment trust, Dunedin Enterprise Investment Trust plc.

Since raising its latest fund, Dunedin has made investments in Fernau, WFEL, Enrich, Formaplex, Hawksford, Weldex, U-Pol and Red Commerce, as well as CitySprint, and has already realised its investment in Fernau.

Todd Cardy

Todd Cardy

Todd was Editor of GrowthBusiness.co.uk between 2010 and 2011 as well as being responsible for publishing our digital and printed magazines focusing on private equity and venture capital.

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