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London-based mid-market private equity firm MML Capital Partners has announced the final close of its latest fund, Partnership Capital VIII, at €1 billion (approximately $1.2 billion), marking a nearly 50% increase over its predecessor.
The fund was oversubscribed, securing commitments from 11 new institutional investors. MML’s previous fund, Partnership Capital VII, closed at €670 million in 2021.
Investment Focus
MML’s Partnership Capital strategy targets profitable B2B companies across the UK, US, and Northern Europe, with typical equity investments ranging from €40 million to €120 million. The firm focuses on companies with EBITDA of at least £8 million, across a variety of sectors.
Portfolio Highlights
Recent portfolio companies include:
- Freeland Group (France) – Professional services platform for freelancers
- OnPoint (Texas, USA) – Industrial project management services
- TMC Group (Netherlands) – Specialist recruitment and consultancy
Strong Exit and Deployment Activity
Despite market headwinds, MML completed eight exits over the past 12 months, achieving an average 4.1x multiple on invested capital (MOIC) and generating more than €600 million in distributions. During the same period, the firm deployed over €500 million across 10 new investments.
Strategic Outlook
The successful fundraise and recent activity reinforce MML’s position as a leading partner for mid-sized B2B businesses seeking growth capital and strategic support across key developed markets.
Excerpts from article By Emily Lai on Pitchbook
