Carey Olsen advises Inflexion on £2.3 billion continuation fund

Carey Olsen has advised European private equity firm Inflexion Private Equity Partners LLP ("Inflexion") on the successful final close of Inflexion Continuation Fund I ("the Fund") at £2.3 billion – the largest multi-asset continuation vehicle raised in Europe to date.

The Fund will provide four Inflexion portfolio companies – Aspen Pumps, Rosemont Pharmaceuticals, Ocorian and CNX Therapeutics – with support in continuing their ambitious plans for growth, particularly within the mergers and acquisitions (M&A) sector.

As a result of the transaction, existing Inflexion investors will receive net proceeds of £1.5 billion with a realised return of 3.4x and 28% IRR, in addition to the opportunity to reinvest. Inflexion has achieved 71 exits delivering a realised return of 3.4x and IRR of 33% since its establishment in 1999.

The Carey Olsen Guernsey corporate team advising on the transaction comprised partners Andrew Boyce and Rachel de la Haye, senior associate Oliver Orton, and associate Nicola D'Amico.

Andrew Boyce commented: "As a long-standing client of Carey Olsen, we are pleased to have supported Inflexion on the successful close of its first continuation fund. This is a significant milestone for Inflexion, which aligns with the firm's strategic focus on organic growth, international expansion and M&A. We look forward to seeing how the fund facilitates the growth of its portfolio companies with the support of investors."

Carey Olsen's corporate team in Guernsey has previously advised Inflexion on a number of successful fundraises, including the final close of Enterprise Fund VI at £975 million, Inflexion Partnership Capital Fund III at £1.75 billion, and the collective £1 billion close of Inflexion Enterprise Fund V and Supplemental Fund V.