Inflexion seals £2.3bn continuation fund in Europe’s largest multi-asset GP-led deal
Inflexion has announced the final close of its £2.3bn Inflexion Continuation Fund I, the largest multi-asset continuation fund raised in Europe to date.
The oversubscribed vehicle will enable four portfolio companies – Aspen Pumps, Rosemont Pharmaceuticals, Ocorian, and CNX Therapeutics – to continue their growth trajectories with a sharpened focus on international expansion and M&A.
The continuation fund delivers £1.5bn in liquidity to existing Inflexion investors while offering the opportunity to reinvest in high-performing assets. The transaction provides a realised return of 3.4x and a 28% IRR. Since inception, Inflexion has achieved 71 exits with a total realised IRR of 33%.
“Aspen, Rosemont, Ocorian, and CNX all have clear growth strategies and we are excited to continue to partner with them. In particular, there is a significant opportunity to turbocharge their growth through M&A,” said Flor Kassai, Managing Partner at Inflexion.
Backed by lead investors Carlyle AlpInvest, HarbourVest Partners, and Lexington Partners, the continuation fund attracted additional commitments from both new and existing LPs. The transaction underscores Inflexion’s ability to recycle capital while continuing to back established category leaders in resilient sectors.
“This is a strategic milestone for Inflexion and delivers significant liquidity to our investors,” said George Collier, Chief Operating Officer at Inflexion. “We look forward to working with our new and returning investors to support the ambitious growth plans of our portfolio companies.”
Evercore Private Capital Advisory acted as lead financial adviser, with Jefferies and William Blair advising affiliated Inflexion funds. Kirkland & Ellis LLP provided legal counsel. The transaction remains subject to regulatory approval.