Inflexion Raises £2.3 Billion for Its First Continuation Vehicle

Mid-market private equity firm Inflexion has raised £2.3 billion ($3 billion) for a fund that will help it hold onto some of its assets for longer, marking one of the largest multi-asset continuation vehicles raised in Europe.

Inflexion Continuation Fund I, the firm’s first such vehicle, was underwritten by Carlyle AlpInvest, HarbourVest Partners and Lexington Partners as lead investors, according to a statement reviewed by Bloomberg News. The transaction generates net proceeds of £1.5 billion for existing Inflexion investors, with a realized return of 3.4 times.

The new vehicle is comparable in size to Inflexion’s flagship Buyout Fund VI, ...