PRIVATE EQUITY investor Endless has completed its fourth fundraising, taking total funds under management to £1bn.
The Leeds business said its latest round was “heavily oversubscribed” with most investors pared back on their requests.
Endless would not name any of the backers but said they include educational endowments, family offices and charitable foundations of “some of the world’s most successful entrepreneurs”.
These represent more than 50 per cent of the investor base, with the Endless team the biggest single investor in the new fund.
Darren Forshaw, one of the founding partners, said the investors come from Europe, the United States and, for the first time, China.
The Yorkshire Evening Post revealed in October that Endless was to launch its fourth fund with initial expectations of raising around £400m.
Mr Forshaw said: “It’s a bit more than expected. Obviously we are delighted with the demand.
“The track record of previous funds has helped us get to that position. We were widely told it will be in the top five per cent of funds across Europe.”
Endless was founded in Leeds nine years ago and has invested in around 50 businesses to date.
Companies in its portfolio employ 12,000 people, said Mr Forshaw.