History

Pollen Street Capital was formed in November 2013 when the Royal Bank of Scotland private equity team spun-out to establish an independent fund management business. Its roots can be traced back over the last decade.

2003: Royal Bank of Scotland formed RBS Equity Finance; a private equity team brought together by amalgamating the bank’s many equity investing businesses into a single team. The team’s strategy was to maximise the bank’s franchise value by capitalising on investment opportunities through its customer base.

2007: The team transitioned from investing the bank’s own balance sheet capital to become a manager of third party capital through the raising of the £1.1bn RBS Special Opportunities Fund from a wide range of institutional investors.

2008: The team began to focus on financial services investments. Since closing the initial £1.1bn fund, twelve deals have been completed of which eight were in financial and business services.

2013: The team spun-out of RBS to establish an independent fund manager, SOF Investments Limited, which continued to manage the Special Opportunities Fund.

May 2014: SOF Annex Fund was raised to acquire four assets from the Special Opportunities Fund with additional capital raised to finance further investment. 

September 2014: SOF Investments Limited was renamed Pollen Street Capital, a private equity fund manager focussed on financial services.

December 2015: Pollen Street completes the listing of its first specialist lending fund, Honeycomb Investment Trust plc, on the Specialist Funds Market of the London Stock Exchange, raising gross proceeds of £100m.

March 2016: PSC Fund III holds its first close, raising over £120m for lower mid-market investments in European Financial Services businesses.