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UK growth PE funds expand share as fundraising shrinks
In the first half of 2026, UK growth funds raised £2.6 billion, or 22.2% of UK PE capital raised, up from 2.8% in 2025.
Growth-oriented private equity is taking a larger slice of UK fundraising as overall deal capital shrinks, according to data cited by Yahoo Finance.
PitchBook data shows UK growth funds raised £2.6 billion in the first half of 2026, about $3.5 billion, representing 22.2% of all UK private capital raised. That compares with just 2.8% in 2025, and growth strategies also accounted for 26.7% of 15 PE fund closes in the period.
The largest UK growth fund close in H1 was Apis Partners’ Fund III, which includes Apis Global Growth Fund III and Apis Growth Markets Fund III. The fund raised $1.23 billion in May, closing 23% above target and more than doubling its predecessor, with a stated focus on tech-enabled financial infrastructure and services companies across Europe and growth markets.
Generation Investment Management also raised more than $1 billion in June through the close of Sustainable Private Equity Fund II and related co-investment vehicles. Yahoo Finance notes LPs are increasingly favoring strategies with a distinct risk-and-return profile versus traditional buyouts, but the report says the shift may depend on the schedule and size of several large open buyout mega-funds, including Permira IX, Bridgepoint Europe VIII, and PSG Europe III, while exits remain muted and returns constrained.