Schroders Capital, the $113.7 billion private markets business of Schroders, today announces the final close of its flagship co-investment fund, Schroders Capital Private Equity Global Direct IV ("Global Direct IV"), at $1.3 billion.
The final close marks Schroders Capital’s largest closed-ended commingled private equity fund to date and builds on the continued growth of its private equity platform, which has raised over $5bn of capital this year.
Global Direct IV is a pure-play co-investment fund focused on the small and mid-market (enterprise values typically below $1 billion), investing primarily in Europe and the US, complemented by a selective allocation to growth investments in Asia. It provides investors with access to a diversified portfolio across five core industries: healthcare, technology, business services, consumer and industrials.
Its strategy targets companies with strong fundamentals and transformational growth potential, investing alongside specialist GPs where value creation can be driven by organic growth, buy-and-build strategies, international expansion and professionalisation.
Since its launch in 2024, Global Direct IV has garnered significant interest from a broad range of institutional investors and family offices looking to tap into the advantages of a diversified global strategy focused on small and mid-sized private equity investments.
Rainer Ender, Global Head of Private Equity at Schroders Capital, commented: “Reaching $1.3 billion marks an important milestone for Global Direct IV as well as our broader private equity platform, demonstrating the confidence clients have in our strategy and delivery.
\u200b“2026 marks our third consecutive year of record fundraising, with over $5bn raised across the platform this year– reflecting both the strength of our sponsor relationships and our ability to consistently capture, execute, and manage opportunities with significant potential for transformational growth.
\u200b“At a time when volatility and uncertainty are key considerations for investors, our longstanding focus and proven expertise operating within the small and mid-market has allowed us to deliver for our investors.”
With more than 260 closed co-investments and a realized track record of 3.3x MOIC across 86 partially and fully realized investments, Schroders Capital’s direct/co-investment strategy has demonstrated resilience during periods of uncertainty. The latest portfolio developments have underscored this, with the three most recent announced co-investment exits expected to deliver a blended return of 6.0x MOIC and over $1.2 billion of proceeds.
These include AerFin, the UK aviation aftermarket specialist, which is being acquired by a strategic buyer following significant international expansion and operational growth; Saber Power Services, a provider of mission-critical power infrastructure services, which has been announced as being acquired by a financial sponsor; and Pharmacy2U, the UK’s leading digital healthcare platform, which delivered a successful outcome following Schroders Capital’s support through both co-investment and preferred equity capital.
Jeremy Knox, Co-Portfolio Manager of Global Direct IV, said: “We are delighted to reach final close of Global Direct IV. As a leading global co-investor in the small and mid-market, we believe this segment continues to offer a vast and compelling opportunity set.
\u200b“Global Direct IV builds on our proven co-investment platform focused on co-underwriting investments with specialist GPs. The strategic focus on investing in transformative growth, combined with a globally diversified approach, has been central to our success – the recent proceeds generated are testament to this. As we continue to see strong investor demand for differentiated access to private equity, we look forward to building on this momentum.”
With $29.7bn assets under management, Schroders Capital’s private equity platform has a track record of more than 25 years investing across the full lifecycle – from primary fund commitments to direct co-investments and continuation investments – with a strategic focus on small and mid-market buyouts, growth companies and global venture capital.