BlueStep, the largest specialist mortgage lender in Scandinavia, was acquired in February 2008. BlueStep offers mortgage products for borrowers who self-certify their income, have adverse credit histories or for other reasons have difficulties accessing the mainstream mortgage market. BlueStep originates its products predominantly through the direct-to-borrower channel. Initially focused on Swedish specialist mortgages, since the acquisition in 2008 BlueStep has expanded its offering to include specialist mortgages in Norway, unsecured loans in Sweden, as well as deposit products for retail customers in both Sweden and Norway. BlueStep was sold in July 2017 to EQT VII

Cognita was established in October 2004 when we invested with the objective of creating the leading independent schools business initially in the UK, then internationally. Cognita's vision is to build a portfolio of top quality schools with an absolute commitment to teaching excellence. The company was founded by an experienced management team and chaired by Chris Woodhead for c.10 years, the former UK Chief Inspector of Schools. We developed Cognita's strategy with Chris and the management team for more than a year prior to the Company's initial acquisitions. Having become by far the leading independent schools business in the UK, Cognita now also has a leading presence in Singapore, Vietnam, Thailand, Spain, Chile and Brazil, and has recently entered the Hong Kong market. In 2013 we negotiated an investment in Cognita by KKR, alongside us as a 50/50 owner, to further accelerate the company’s growth around the world.

Facile was acquired in 2014 and has built a leading market position in the fast-growing Italian online price comparison market particularly in car insurance. Facile has launched several price comparison product verticals to broaden its revenue base beyond insurance including gas and electricity, broadband, bank accounts and mobile phones. Today, Facile helps over two million Italians a month to compare prices on key elements of their household expenditure.

Global Solutions Ltd ("GSL") was acquired in May 2004. GSL is a leading UK and overseas provider of outsourced services to public authorities and operators within the growing PFI and PPP outsourcing market. GSL's service offering incorporates: Custodial Services - prison management, escorting, immigration, custody and training; Integrated Services - project management, maintenance and logistics solutions for the healthcare, education and local authority sectors; Metering and Managed Services - gas and electricity meter reading and data aggregation services for utilities. GSL was acquired in partnership with Cognetas LLP. In May 2008, GSL was sold to G4S plc for a gross enterprise valuation of €355 million.

A minority stake in HEG was acquired when Intergenia was sold to HEG in January 2015. HEG has grown to be the largest privately owned provider of hosting and domain services in Europe with seven datacentre facilities in Europe and the USA. HEG operates three main divisions providing mass hosting, managed hosting and datacentre services to over 1.7 million customers and manages over 7 million domain names. HEG is a clear leader in its core markets and has strong potential for future and continued growth. HEG was acquired by GoDaddy in December 2016.

At the time of acquisition in 2008, Host Europe operated two web-hosting divisions. "Webfusion" in the UK, a market leader for domain registration and the second largest shared hosting provider, and "Host Europe GmbH" in Germany, the market leader in standardised managed hosting services. In October 2010, after achieving significant organic growth in its web-hosting divisions Host Europe was sold to Montagu Private Equity.

Intergenia was acquired in 2011 from its founders (who retained a 49% equity interest). Intergenia was a leading provider of web-hosting services and traded under the "PlusServer", "serverloft" and "SERVER4YOU" brands. The company benefited from an industry-leading low-cost base due to its proprietary automated server provisioning platform and its data centre in Strasbourg, which is cooled by underground river water making it one of Europe’s most efficient data centres. Intergenia delivered strong organic growth and made five bolt-on acquisitions which were migrated onto its low cost platform to realise synergies. In January 2015, the business was sold to HEG.

Acquired in 2008, Morrison Utility Services ("MUS"), headquartered in Stevenage, Hertfordshire, is one of the UK’s leading service providers within the electricity, gas, telecommunication and water utilities sectors. Operating under long-term contracts, it is a leading tier 1 provider of outsourced services to a broad range of utility companies. The services provided include the installation, maintenance and replacement of piping and cabling networks throughout the UK and Ireland. MUS supplies the labour and equipment hire required and works in partnership with its blue chip clients to assist them in the long-term planning of their infrastructure management.

Parship was acquired in April 2015 by Oakley Capital from Holtzbrinck Digital. As the inventor of scientific matchmaking in Europe, Parship has helped its members since 2001 to find the right match for a happy long-term relationship. In November 2015 Parship acquired Elite Partner its largest competitor to further consolidate Parship's market-leading position in the DACH region. The Group has delivered strong organic growth and realised significant synergies. A controlling stake in Parship was sold to ProSiebenSat.1 in September 2016.

Acquired in September 2013, Ideal Stelrad Group was a boiler and radiator manufacturer with production facilities across Europe.

Studialis was set up in November 2007 to build a business in the higher education sector in French-speaking countries. Over the next eight years, Studialis acquired thirteen French private education groups providing recognised undergraduate and graduate courses to a total of 17,500 students in the fields of management, marketing & communication, journalism, finance and accounting, graphic, industrial, interior, fashion and web design, acting and cinema, as well as in arts and culture management. In October 2015, Studialis was sold to Galileo Education, making it the largest European higher education business and the best positioned to expand internationally.

A growth capital investment in QA was completed in May 2007, followed by the successful acquisition of AIM-listed Xpertise Group plc, one of QA’s principal competitors, in September 2008. Subsequently the group has delivered strong organic growth and completed five further add-on acquisitions to supplement and broaden the group’s offering. Today, QA is the UK’s pre-eminent IT training company, providing training in predominantly IT-related areas to private and public sector clients, including approximately 80% of the FTSE 250. Since acquisition, QA has launched operations in apprenticeships and higher education, and more recently entered the fast-growing hire-train-deploy market for IT consultants.

Verivox was acquired in December 2009 from Independent News & Media. Verivox was founded in Heidelberg in 1998 and became Germany’s largest independent consumer portal for energy. Verivox has successfully helped more than 7.5 million households switch their utility providers with consumer savings in excess of €1 billion. In addition, Verivox offers online comparisons for telecommunication, insurance and finance products as well as a search engine for commission-free real estate properties and pre-owned automobiles. Following a competitive sales process, Verivox was sold to ProSiebenSat.1 in August 2015.

Whittan, one of the leading European suppliers of storage solutions and the established market leader in the UK, was acquired in February 2015. Whittan manufactures, sells and distributes three core products: pallet racking, shelving and lockers, to a wide range of customers. It trades under a number of well established brands including: Link51, Permar, Polypal and Moresecure. Headquartered in the UK, Whittan has manufacturing facilities in the UK and Spain and its own sales and distribution operations across Europe. In January 2016, Whittan completed a transformational acquisition of Apex Linvar Ltd, a UK manufacturer of pallet racking systems that also provides a broader range of storage solutions including shelving. Apex Linvar has manufacturing facilities located in the UK.

An investment in Zephyr Investments Ltd was completed in April 2004. A second group of wind farms was contributed to Zephyr in December 2005, with a third group contributed in December 2006. Zephyr was the first off-balance sheet portfolio financing of wind farms operating under the UK Renewables Obligation Certificates ("ROCs") mechanism. RWE provided Zephyr with a long term fixed price power purchase agreement, including ROCs, and a long term operation and maintenance services contract for the assets. The Zephyr portfolio comprised 391 MW of mostly onshore capacity across the UK. The investment in Zephyr was done in partnership with Arcapita and RWE. In May 2007, Zephyr was sold to a consortium of Prudential's infrastructure fund and J.P. Morgan's infrastructure fund at an enterprise valuation in excess of €700 million.