Lyceum Capital has closed its new fund, Lyceum Capital Fund II, at £255m, more than 25% above its target of £200m. The fund will invest in mid-sized UK-based service and management companies. Lyceum focuses on building small and medium-sized companies in fragmented markets, through investment in strategic innovation, technology and add-on acquisitions that accelerate growth in size and market presence. The company previously built Asquith Schools into one of the largest independent owners and operators of day preparatory schools in the UK. Asquith was sold to Englefield Capital in November 2004.

www.lyceumcapital.co.uk