Exponent Private Equity LLP, a London-based buyout firm, plans to begin raising 800 million pounds ($1.4 billion) in the third quarter, according to two people with knowledge of the matter.
Exponent, founded by a team of former 3i Group Plc executives in 2004, hired private-equity advisory firm Campbell Lutyens & Co. Ltd. to help raise its third fund, said the people, who asked not to be identified because the talks are private. Spokesmen for Exponent and Campbell Lutyens declined to comment.
In March, Exponent overhauled its senior team, with partners Richard Campin and Richard Tudor stepping down and Oliver Bower, Mark Taylor and Craig Vickery promoted to the partnership, the buyout firm said in a statement at the time.
Exponent owns stakes in companies including manufacturer Quorn Foods Ltd. and handbag maker Radley + Co. Ltd., according to the U.K.-based companies’ websites.
Private-equity firms typically pool money from pension plans and endowments with a mandate to buy companies within five to six years, then sell them and return the money and a profit after 10 years. They usually charge a management fee of as much as 2 percent and keep 20 percent of the profits from investments.