Macfarlanes has advised leading UK mid-market private equity investor CBPE on its latest fund, CBPE Fund XI, which has closed at £714m.

The fund closed at its hard cap in a first and final closing and will continue the firm’s strategy of investing in UK-headquartered businesses with an enterprise value of up to £175m.

CBPE is a long-standing client of the firm, with Macfarlanes advising on its previous fundraises, including CBPE Capital X, which closed at its hard cap of £561m in November 2020.

The Macfarlanes team for this matter was led by Private Funds Partner Harriet Miller with assistance from Senior Counsel Henry Stewart-Brown and Associate Jade Allman. Tax and Reward expertise was provided by Partner James McCredie and Associates Harvey Innocent, Sam Shillam and Sam Pettinger-Harte.

CBPE was advised by fundraising advisory firm, Rede Partners LLP. 

Harriet Miller comments: “We were delighted to advise CBPE on the successful raising of its eleventh fund; achieving a first and final close in what remains a difficult fundraising market is a reflection of CBPE’s great team and strong performance in its prior funds.”

Ian Moore, Managing Partner of CBPE said: “Macfarlanes has been invaluable in helping us achieve this fantastic fundraise in a single close. They have provided a seamless service handling negotiations with a global and diversified investor base on a condensed fundraising timetable. Thank you Harriet and the whole Macfarlanes team.”