Nearly a decade after it spun out from Candover Investments in the wake of the financial crisis, British private equity firm Arle Capital Partners will shut down at the end of the quarter. Former Candover executives launched Arle to manage Candover’s buyout fund portfolio after the firm was unable to honor its fund commitments as the result of a post-crash capital crunch. Arle had reportedly once hoped to raise a new buyout fund of its own, but those plans never came to fruition.
Looking back, the source of Candover’s initial struggles is clear: its Candover 2005 Fund, a vehicle that closed on €3.5 billion in November of that year. Fully invested, the fund logged an IRR of -13.4%, according to the PitchBook Platform, a disastrous figure that ranks more than 20% below its peer benchmark. Other metrics include a 0.34x DVPI and a 0.52x TVPI.
PitchBook Platform users can access the full data on Candover’s former funds—plus plenty more on Arle—right here.