British-based Darwin Private Equity said it has so far raised £207 million (US$409.2 million) for its inaugural fund. Darwin began fundraising for Darwin Private Equity I in May with a target of £250 million (US$494.2 million).

Jonathan Kaye, a partner at Darwin, said, “We are delighted with the support we have received from the investor community and are looking forward to a final close of the fund over the coming months.”

Darwin is also expanding its staff with the addition of two new professionals. David Coombs has joined from Morgan Stanley, where he was an associate in the Investment Banking division and Paul Burton will join the firm next month from PPM Capital, where he is a manager focused on mid-market buyouts.