Today, UK private equity firm Bowmark Capital announced the successful closing of its latest flagship fund, Bowmark Capital Partners VII, with total commitments of over £900 million, approximately 50 per cent larger than its predecessor.
Bowmark VII was launched with a target of £800 million, achieved a rapid first close in October 2023 and held a final close at its hard cap within just three months of the first closing.
It was supported by 31 institutional investors, with 48 per cent of the capital coming from Continental Europe, 37 per cent from North America, 7 percent from the UK and 8 per cent from other countries.
Overall, pension funds committed 32 percent and insurance companies 21 per cent, with 20 percent coming from funds-of-funds, 17 percent from other financial institutions and 10 per cent from endowments, foundations and family offices.
Charles Ind, managing partner, shared his gratitude in investors for their confidence and support in enabling the fundraising to be completed so efficiently. He noted:
Along with Bowmark Growth Partners, our fund focusing on smaller companies, we now have over £1 billion of dry powder available for new investment at what we believe will prove to be a very attractive time to invest in mid-market companies – driven by a recovering economy and the long-term growth drivers of technology, digitisation and outsourcing.
We are excited at the opportunities ahead and look forward to continuing to partner with enterprising management teams in the business services and technology sectors to help them realise their growth ambitions.”
The fund will continue Bowmark’s active investment in data and insight, managed IT, software, and technology-enabled business services.
Lead image: Bowmark Capital. Photo: uncredited.