News & Analysis

Inflexion poaches Vision’s Cohen for minority team

The firm has hired the direct secondaries pioneer's Daryl Cohen as an investment director in the partnership capital team.

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Vision Capital former partner Daryl Cohen has emerged at UK-based mid-market firm Inflexion Private Equity.

Daryl Cohen
Daryl Cohen

Cohen, who left direct secondaries pioneer Vision in the last month, takes up the role with immediate effect, according to a statement.

He joined London-based Vision in 2008 and was a partner and member of the firm’s investment committee. He started his career at Goldman Sachs, before working with Silver Point Capital and Lion Capital.

Inflexion’s partnership capital team, which focuses on minority investing, is currently investing its first fund, which closed on £400 million ($489 million €472 million) in 2014 alongside the firm’s £650 million fourth flagship fund in a double fund close.

The vehicle’s investors include Florida State Board of Administration, New York State Teachers’ Retirement System, the State of Wisconsin Investment Board, and Argentum Asset Management, according to PEI data.

Its portfolio companies include media and exhibitions group CloserStill, and, as of last week, digital advertising screens business Outdoor Plus.

In the statement, partnership capital head David Whileman said Cohen was joining at an “exciting time”.

“Just last week we completed another new investment and we continue to meet entrepreneurs and business leaders for whom our minority offering is an attractive solution to support their growth ambitions,” he said.

In May, Inflexion completed its second double fundraising, holding a first and final close on Inflexion Enterprise Fund IV and Inflexion Supplemental Fund IV within just eight weeks of launch, both on their £250 million hard-caps.

The Supplemental Fund will invest alongside Inflexion Buyout Fund IV Inflexion Partnership Capital Fund I, while the enterprise fund is focused on the lower mid-market and will back high-growth, entrepreneurial businesses with ambitious management teams. It will make equity investments of £10-20 million for majority or minority stakes in businesses across all sectors and regions of the UK.