Kester Capital
Kester Capital LLP is a London-based lower mid-market private equity firm focused on primary buyouts in Technology and Life Sciences sectors across the UK. Founded in 2006 as the European PE arm of Greenhill & Co. under the name GCP Capital Partners, the firm rebranded to Kester Capital and has raised four funds: Kester Capital II (GBP 90 million, 2020 final close), Kester Capital III (GBP 200 million, March 2024 final close), and Kester Capital IV (GBP 425 million, November 2025 final close). The firm targets equity investments of GBP 5-25 million in UK SMEs requiring institutional capital for the first time. Authorised and regulated by the UK Financial Conduct Authority under firm reference number 458998 (Kester Capital LLP). Registered at Companies House under number OC323239.
Key facts
Recent exits
Coverage notes
3 funds tracked, 14 portfolio companies (11 active · 3 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Kester Capital has raised, with its portfolio companies. Hand-checked from public filings.
Kester Capital IVSmall-Mid Buyout2025 · 1yr€497M1 active
Kester Capital IIISmall-Mid Buyout2023 · 3yr€234M6 active
Unrealized
6 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Addresscloud | Data & Analytics | UK | 2025 |
| Evestia Clinical | HealthTech | UK | 2024 |
| GXP Engaged | Business Services | UK | 2023 |
| Kintiga | Business Services | UK | 2023 |
| Re-flow | Software | UK | 2025 |
| The Boundary | SaaS | UK | 2024 |
Kester Capital IISmall-Mid Buyout2019 · 7yr€105M4 active · 3 realized
Unrealized
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About Kester Capital
Kester Capital is a sector-focused UK lower mid-market private equity firm with approximately £250-315 million of assets under management as of December 2024 (Kester Capital III closed at £200 million hard cap in March 2024, plus prior fund), headquartered in London's Mayfair. The firm originated as Greenhill Capital Partners Europe (the European PE arm of Greenhill & Co.) before becoming independent and rebranding as Kester Capital, operating as a partner-owned independent firm with a strong buy-and-build track record including multiple consecutive 4x-plus exits.
Investment thesis
Kester Capital deploys capital through approximately three funds (Kester Capital I, II, III), targeting sector-focused primary buyouts in the UK lower mid-market with equity investments up to approximately £75 million, building market leaders via buy-and-build. Sector focus spans healthcare, life sciences, technology, information and data and tech-enabled services. Geographic deployment is the United Kingdom core with portfolio companies expanding internationally across the US and Europe. The platform concentrates deep, dedicated expertise and networks exclusively in healthcare and life sciences and technology.
Recent activity
Recent realised exits include consumer and pet retail (2024) and technology (2024). Recent acquisitions include laboratory services and healthcare (2026), nutrition software (2026), geospatial and data software (2025), field-service software (2025) and clinical research services (December 2024). The platform continues active deployment of Kester Capital III across the healthcare and technology mandate. Detailed buyer names and multiple data available on Pro at €29/month.
Investment team
Senior partners. Hand-checked from public filings and the firm's own site.
Similar firms
Other private equity firms tracked on GP Intel.
United Kingdom·€4.4BUnited Kingdom·€3.5BUnited Kingdom·€3.2BUnited Kingdom·€3.0BUnited Kingdom·€2.9BUnited Kingdom·€1.9BUnited Kingdom·€1.8BUnited Kingdom·€1.7BUnited Kingdom·€1.1BUnited Kingdom·€1.1BUnited Kingdom·€920MUnited Kingdom·€889M