Elysian Capital has made the debut deal from its £325m third fund, which it raised in less than six months during the Covid-19 pandemic.
The firm has bought executive search, interim management and consulting business Eton Bridge Partners, which aims to help companies build leadership teams.
Elysian partner Edward Brett said, “Ashton and the team have built a distinctive talent solutions business.
“We have been very impressed with the Eton Bridge culture that Ashton has fostered and the strength and calibre of the people across the whole organisation.”
Elysian sealed an impressive fundraise last October by hitting the £325m hard cap for its third investment vehicle less than six months after launch.
The final close capped a busy period for the Elysian Capital team despite the coronavirus pandemic, including sealing a 4.5x return from its exit of Wellbeing Software and making three new platform investments.
AltAssets revealed in July that the firm was within touching distance of its initial £300m target after just three months in the market.
Elysian Capital closed its previous fund on its £250m hard cap in 2015, after just five months in the market.
Fund III will target companies in the UK and Ireland lower mid-market with EV of up to £100m.
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