Oak Hill Capital Partners, a US mid-market private equity firm that made its first buyout in Europe two years ago by acquiring Telecity, has completed its exit from the investment by floating the UK data centre operator.

Telecity has raised £96.3m (€138.8m) through an initial public offering on the London Stock Exchange that gives the company a market capitalisation of £436m and also marks Oak Hill's first exit from a buyout in Europe, according to data provider Dealogic.