Sagitta Private Equity has raised £105m (€157m) for its first independent UK small mid-market fund. The fund's final close coincides with the completion of its management buy-out from Sagitta Asset Management, the asset manager formed in 1995 that focuses on high net worth individuals and families.

The amount raised is 40% above the fund's original target of £75m and reflects investor confidence in the track record of Charles Ind and Kevin Grassby, the joint managing directors of Sagitta Private Equity.