Pollen Street Capital, the UK-based financial services specialist investor, has closed its third fund.
The firm raised in excess of £400m (€449.2m) for PSC Fund III, surpassing its £350m target.
Some 53 per cent of the fund has already been deployed across seven investments including Shawbrook Bank, which the firm took private alongside BC Partners little over a year after floating it, 1st Stop Group and Capitalflow.
Pollen Street Capital spun out of the Royal Bank of Scotland in 2014, but has been managing third-party capital since 2007. Led by Lindsey McMurray, it targets lower mid-market investments in European financial services companies.