LGV announces first close of new fund

20 December 2010

LGV announces the first close of its new fund, LGV 7 Private Equity Fund Limited Partnership, with total commitments exceeding £170m. This represents LGV's seventh fund launched since 2000 and takes funds raised over this period to more than £1bn. LGV will be seeking further commitments to the fund during 2011.

LGV 7 will continue LGV's successful strategy of backing highly motivated management teams in buyouts and buyins of businesses in the UK mid-market. The first close of LGV 7 marks the end of an active year for LGV, following the significant realisation of LGC Holdings, the UK's leading analytical testing services business in March. Two new investments have been made, in Snow+Rock Group the specialist retailer of outdoor sports equipment and clothing, and in Amber Taverns a community based pub company. Meanwhile an existing portfolio company, The Liberation Group, has continued its growth strategy by acquiring two additional pubs to add to its estate in the Channel Islands.