Preservation Capital Partners (“Preservation Capital”), a specialist investor in the asset-light financial services sector, today announces the closing of Preservation Capital Partners Fund I (“the Fund”) at its hard cap of £309 million ($400 million).
The fund was significantly oversubscribed and includes a diverse group of global investors, including public pension plans, funds of funds and institutional family offices. Launched in Q4 2019, a substantial part of the fund was raised during the Covid-19 pandemic. Preservation’s focus on highly resilient, asset-light, recurring-revenue business models in the financial services sector underpinned the success of the fundraising.
The Fund will invest in a focused portfolio of three to five platform companies within the asset-light financial services sector across Western and Northern Europe.
Jatender Aujla, Managing Partner and Founder of Preservation Capital said: “We are delighted to announce our debut fundraise with the backing of an exceptional group of investors for our uniquely focused investment approach. We pride ourselves on being a sector specialist investor and backing entrepreneurial, founder-led businesses that operate in sub-sectors that are positioned to experience significant growth. We are committed to driving outsized returns for the management teams that we back and the investors that support us.”
Acanthus served as placement agent and Proskauer Rose served as legal counsel for Preservation Capital Partners Fund I.