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We invest directly, either on a majority or minority basis, in a small number of private companies predominantly in the UK mid-market. The team work very closely with portfolio companies providing operational and strategic support alongside long-term capital in order to drive value.

The qualities we focus on are:

  • Well established businesses with strong market positions
  • Experienced management teams
  • Profitable and cash generative
  • Prudent capital structures

14% p.a. total return target

We target a total return target of 14% p.a. with a 2.5% yield on cost, by investing in businesses with robust operating margins, led by strong management teams targeting meaningful growth.

“We take a long-term approach working closely with our portfolio companies to deliver enduring capital and support. This, along with our buy-to-own, rather than buy-to-sell philosophy, differentiates us from other private equity managers. We seek to invest in high quality, well established, UK centric businesses with a mid-market focus."

Tom Leader

Head of Caledonia Private Capital

Meet the Private Capital team
Performance Data

Over 1 Yr

Over 3 Yrs

Over 5 Yrs

Over 10 Yrs

Annualised Return

3.7%

8.1%

19.2%

12.4%

as at 31 March 2025
Significant pool investments

Name

First Invested

Value (£m)

2019

221.4

2023

197.7

2004

192.7

2016

136.5

2018

44.1

Other investments

23.3

Total

870.7

as at 31 March 2025

Geographic distribution by revenue generation

60%
UK & Channel Islands
30%
Europe
4%
North America
3%
Asia
3%
Other Countries

Sector distribution

43%
Industrials
26%
Financials
21%
Consumer discretionary
3%
Materials
2%
Healthcare
2%
Consumer staples
1%
Information technology
2%
Other sectors
as at 31 March 2025