Prefequity announces the first close of Fund II

Prefequity Credit Opportunities II LP has a target size of £150 million.

Prefequity is an independent firm that invests in lower mid-market companies across the UK by providing structured capital to support their growth plans and strategic transactions. In particular, it offers ambitious owner-managers a non-controlling and less dilutive alternative to private equity.

Having successfully deployed its first fund with £100 million of invested capital, Prefequity has now reached a first close on Fund II. Prefequity Credit Opportunities II LP, which has a target size of £150 million, will continue Prefequity's proven strategy of providing senior secured loans with equity upside to an underserved part of the UK lower mid-market in deal sizes of £5 million to £25 million.

Theo Dickens, Prefequity's Managing Partner, commented: "We are delighted our second fund is off to a strong start and immensely grateful to the LPs who have backed us. We look forward to attracting more LPs with our investment philosophy that offers downside protection thanks to the non-discretionary nature of the businesses we back, coupled with the opportunity to partner with high-quality management teams through our equity participation."