Philip Wack, a former director at US buyout firm KKR, has set up a new investment firm called Moonlake Capital, FN's sister publication Private Equity News reports.

The London-based firm will target investments in established mid-market companies worth between €250 million and €300 million in the industrials and consumer services sectors across the UK and in German-speaking Europe. It will also consider making investments in companies with an enterprise value of €100 million.