Billionaire’s Family Office Plots More Private Equity Exits

The billionaire UK founder of a home-repair business acquired by Brookfield Asset Management is working to ramp up his family office’s private equity exits, as larger buyout firms grapple with a dry spell for transactions.

Richard Harpin’s Growth Partner is targeting more sales this year after striking a deal to offload a stake in Spanish fitness chain Synergym earlier this week, he said in an interview. While deal terms weren’t disclosed, Harpin said the transaction beat his baseline goal of increasing his family office’s original investment by a multiple of 2.5, equating to gains of at least 150%.