Kester announces first and final close of Fund IV at £425m hard cap

Kester, a leading sector-focused private equity firm, is delighted to announce the first and final close of its fourth fund, Kester Capital Fund IV ("Fund IV"), at its hard cap of £425 million. The four-month fundraise was materially oversubscribed, resulting in a single close following strong demand from existing and new institutional investors.

Fund IV represents a significant increase from Kester Capital Fund III which closed at £200 million of third-party capital. The support from existing and new blue-chip investors from the US, Europe and Asia reflects confidence in Kester’s thematic investment approach and its proven ability to deliver outstanding returns.

Fund IV builds on Kester’s strategy of investing in high-growth, high-potential companies in the Technology and Life Sciences sectors. The firm partners with ambitious management teams to help scale businesses and achieve category leadership.

The closing of Fund IV follows a period of noteworthy activity for Kester. Over the last twelve months, the firm has invested in Addresscloud, a leading insurance risk intelligence provider, Re-flow, a specialist in field service management software for critical infrastructure, and Evestia Clinical, a leading Clinical Research Organisation to the global pharmaceutical and biotech sectors.

Since inception, Kester has delivered exceptional returns for its investors, achieving four consecutive exits over 4x and eight consecutive exits over 3x. The firm’s reputation for sector focus and value creation has attracted a diverse and global investor base, comprising pension funds, endowments, family offices, and asset managers. The firm was also awarded 'PE House of the Year – Small-Cap' at the 2024 Real Deals Private Equity Awards in recognition of its outstanding and consistent investment performance.

Adam Maidment, Founder and Managing Partner, said:

“We are thrilled to announce the close of Fund IV at our hard cap of £425 million. To have secured such strong support is a testament to our investment strategy, the quality of our team and the excellent results we have delivered for our investors. We greatly value the trust and support of both our long-standing and new investors.”

Cameron Crockett, Founder and Managing Partner, added:

“Fund IV gives us the opportunity to continue to invest in our team and platform and to partner with the highest potential Technology and Life Sciences businesses. Our deep sector expertise and track record of driving value creation are more relevant than ever in today’s market.”