Fundraise review: August Equity Fund IV
Coming to market three years after closing its last fund, and against a backdrop of uncertainty caused by the UK's decision to leave the EU, August Equity's £224m close for Fund IV is evidence of investor confidence in the UK lower-mid-market and the merits of a clear business plan.
Having closed its third fund on £200m at the very end of 2013, it is unusual for a private equity fund to have returned to market so quickly, as August managing partner of as Philip Rattle points out himself.
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