London, UK - Paul Hastings LLP has advised NorthEdge Capital LLP, on the launch of its second private equity fund (“Fund II”), focused on the North of England. The £300 million Fund II will pursue equity investments to support management buy-outs, development capital and equity release strategies.

NorthEdge targets investment in businesses with an enterprise value of £10 million to £100 million, although typical transactions will range from £20 million to £75 million in value.

Fund II hit its hard cap of £300 million within four months of fundraising and commitments came from a range of leading institutional investors from Europe, North America and Australia, including insurance companies, private and public pension funds, sovereign wealth funds and funds of funds.

NorthEdge’s previous fund, NorthEdge Capital Fund I, reached final closing in March 2013, raising £225 million, and has invested over £180 million in less than three years in 13 Northern-based businesses operating in a range of industry sectors.

Funds partner Duncan Woollard led the Paul Hastings team, assisted by funds associate Adam Knight.