Inflexion has backed global fund services platform Ocorian with further investment following the close of its Inflexion Continuation Fund at £2.3bn.

The mid-market private equity firm is moving its investment in Ocorian into the new continuation fund alongside three of its other portfolio companies: Aspen, Rosemont, and CNX.

Its fund close was the largest multi-asset continuation fund raised in Europe to date and will provide the portfolio companies with investment to continue their growth plans, with a particular focus on mergers and acquisitions (M&A).

As part of the transaction, which is subject to regulatory approvals, Evercore Private Capital Advisory acted as lead financial adviser, while Jefferies and William Blair acted as financial adviser to certain affiliated Inflexion funds, and Kirkland & Ellis LLP served as legal counsel to the Inflexion funds.

Ocorian said the additional backing would provide it with the opportunity to go “further and faster” in bringing its clients new technologies, solutions, services and improvements.

It will also support the firm’s M&A activity as it seeks to operate alongside its clients in growth markets.

“This announcement from Inflexion reinforces their unwavering commitment to us, our valued clients, our trusted partners and the wider industry we serve,” stated Ocorian CEO, Chantal Free.

“It is a powerful endorsement of our client-centric growth strategy and the dedication of our talented teams globally."

Inflexion chief operating officer, George Collier, added: “We are delighted to have raised our first continuation vehicle, representing a strategic milestone for Inflexion and delivering significant liquidity to our investors.

“We look forward to working with the investors in this latest fund as we continue to support the ambitious growth of Aspen, Rosemont, Ocorian, and CNX.”

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