Dunedin has more than £400m under management. This is managed on behalf of three limited partnership funds and a publicly-quoted investment trust. These funds are backed by more than 20 institutional investors from the UK and Europe and, in the case of the investment trust, by over 5,000 institutional and individual shareholders.
Dunedin Buyout Fund II L.P.
Dunedin Buyout Fund II is a limited partnership. The fund closed in September 2006 with commitments of £250m.
Dunedin Buyout Fund L.P.
Dunedin Buyout Fund is a limited partnership. The fund had a final closing in December 2002 with commitments totalling £54m and is fully invested.
Equity Harvest Fund L.P.
Equity Harvest Fund is a limited partnership. The fund had a final closing in June 2004 with commitments totalling £56m and is fully invested.
Dunedin Enterprise Investment Trust PLC
Dunedin Enterprise Investment Trust is a publicly quoted investment trust which makes commitments to Dunedin-managed and other private equity funds.
Investment Strategy
Dunedin is a leading UK mid-market private equity investor which targets UK buyouts with a deal size of £20m to £75m. We write equity cheques of between £10m and £50m, with a sweet spot of £25m.
Sector focus
We focus on a broad range of sectors using our investment criteria to find the companies where we can apply our knowledge and resources to build value with the management team. Our sector knowledge allows us to understand the market drivers and to build relationships with management teams, key industry participants and influencers. We have enjoyed particular success in the Industrial, Business Services and Financial Services sectors.
We focus on the following sectors:
- Industrial
- Business Services
- Financial Services
- Energy
- Consumer & Leisure
- Healthcare
Value creation
Our goal when we make an investment is to help the companies we back reach their full potential. We invest where we feel we can make a meaningful contribution towards attaining this goal. We ensure that every company within our portfolio has a robust strategy appropriate for the market conditions, the right team to meet the challenges and an optimal financial structure for the circumstances.
Our approach to value creation contains several elements
- Focusing on strategy definition
- Helping with organisational design
- Identifying and executing M&A opportunities
- Developing and negotiating an appropriate capital structure
- Developing appropriate financial controls and reporting
Exit strategy
We focus on building value and maximising returns on exit. Communication and timing are critical in designing and executing an exit strategy. Our team brings proven judgement and experience to this stage of an investment. We are flexible in terms of timing and exit routes – we wait until the best conditions in the market and the company are achieved. We have successfully exited through IPO, trade sale, secondary buyout and refinancing.
Our people
Located in Edinburgh and London, we have a stable new investment team comprising 16 investment professionals with approximately 200 years of private equity experience between them. Our deal generation approach is two-fold: we develop very close relationships with the advisory community to ensure we see quality opportunities throughout the UK; and we have a dedicated direct origination team which applies indepth research to source opportunities for both Dunedin and our portfolio companies.
People are at the heart of our business and relationships are core to what we do. We apply a straight-talking and responsive approach to deliver success. We strive to be the best in our market in terms of delivering transparent, detailed and timely communications to our investors.
