News & Insights

Clyde Blowers Capital closes £420m industrial investment fund

27th January 2012

Leading industrial investor Clyde Blowers Capital announced that it has completed the fundraising for Clyde Blowers Capital Fund III, its new investment fund.

With an initial target fund size of £350m, which was extended to £420m, Fund III was still significantly oversubscribed at final close. 

The fundraising process has helped to broaden the core investor group across a wide range of institutional investors, including university endowments, pension funds and fund-of-funds.  It has also diversified the geographical spread of investors, with 62% being funded out of the US and 38% from Europe.

Jim McColl, chief executive and chairman of Clyde Blowers Capital, said: “This is a significant event in the evolution of Clyde Blowers Capital which allows us to continue to focus on investing in European and US based assets that provide mission critical technologies and equipment, have strong aftermarket opportunities and can be developed on a global basis to serve their key end user markets, both emerging and established.

“Investment funds can take up to three years to reach target size. Our Fund III has done this in only nine months.

“Past private equity models had high reliance on financial engineering, but outside investors are now looking for added value from an operational team. The skill and knowledge we have appeals to these other investors. We have massive operational experience across the engineering sector of the power industry including nuclear, oil and gas and metals and minerals. We understand the economic agenda and how the competition operates.

"With the major changes that are taking place in the global economy, it is doubtful that the old model of funders supplying money without operating expertise will ever come back. This is the new world.”