Inflexion, a prominent European mid-market private equity firm, has successfully closed its Inflexion Continuation Fund I at £2.3 billion. This marks the largest multi-asset continuation fund raised in Europe to date. The Fund aims to support four of Inflexion's portfolio companies in their growth strategies, particularly through mergers and acquisitions (M&A), while also offering existing investors significant liquidity and the chance to reinvest.

The Continuation Fund features a diversified portfolio of global leaders and category champions across resilient sectors, poised to take advantage of favorable market conditions. Inflexion plans to implement its established strategy for value creation, focusing on international expansion, organic growth initiatives, and M&A. A substantial portion of the capital raised will be allocated to support transformational M&A activities.

The four companies included in the Fund are:
- **Aspen Pumps**: A global manufacturer and distributor of condensate pumps and related tools.
- **Rosemont Pharmaceuticals**: A leading UK liquid pharmaceuticals business.
- **Ocorian**: A global platform for fund, corporate, and fiduciary services.
- **CNX Therapeutics**: A European specialty pharmaceutical platform focused on essential medicines.

This transaction has yielded existing Inflexion investors a realized return of 3.4x, with a 28% internal rate of return (IRR) and net proceeds of £1.5 billion. These results contribute to Inflexion's strong track record of delivering market-leading returns, having achieved 71 exits since inception, with an overall realized return of 3.4x and an IRR of 33%.

The Inflexion Continuation Fund I was oversubscribed and backed by major investors including Carlyle AlpInvest, HarbourVest Partners, and Lexington Partners, along with contributions from both existing and new investors. The transaction is pending regulatory approvals.

Evercore Private Capital Advisory served as the lead financial advisor for this transaction, while Jefferies and William Blair provided advisory services to certain affiliated Inflexion Funds. Legal counsel for the Inflexion Funds was provided by Kirkland & Ellis LLP.