UK turnaround fund Endless has closed its third fund at £220 million just ten weeks after starting its fundraising.
UK turnaround fund Endless has closed its third fund at £220 million just ten weeks after starting its fundraising.
The fund is Endless’ third in under six years and will be used to invest in UK-headquartered companies that require operational turnaround, financial restructuring and performance improvement.
Managing partner Garry Wilson says, ‘Endless Funds I and II have delivered top decile returns and this, together with significant investment directly from the Endless partners and team, provides great confidence to our existing and new investors.
‘An increase on our last fund size of 33 per cent will enable us to help even more companies all over the UK in the next few years as economic conditions remain difficult.’
The turnaround investor has made investments through Funds I and II in Crown Paints, Amco Group, retail chain The Works, Peter Black International, engineering firm Davy Markham and furniture designer Neville Johnson.
Darren Forshaw, partner, comments, ‘We have remained active in a difficult investing environment and have found ways to deliver returns to our investors. Acquiring loss making, distressed businesses is tough and we are proud that our investments to date have secured the future for more than 10,000 jobs.’
The investor base in Endless comprises 15 investors from the UK, Europe and the US, including pension funds, US universities, fund of funds and family offices.
