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First-time vehicles look to stand out from the crowd

A new wave of private equity funds are only targeting deals in particular sectors

It is a brisk five-minute walk from Carlyle Group’s headquarters in London’s Berkeley Square to the new London office of first-time fund C5 Capital on the other side of Mayfair. But despite the short walk, for Nazo Moosa, who has made the leap from global buyout firm to private equity start-up, the two are worlds apart.

Moosa, who was at Carlyle Technology Partners for 12 years but has been running C5 Capital, which plans to invest solely in cybersecurity businesses, since July last year, said: "When I was approached for this opportunity, I remember saying I'm not really an entrepreneur. I can't see myself buying my own stapler."

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