Dunedin bucks investment trend with new £300m fund The Dunedin Buyout Fund III, as it is formally known, is understood to have received investments from sovereign wealth funds, state and private pension funds, insurance companies, foundations and so-called "fund of fund" specialists. In addition, some £60m of the new fund is understood to have been committed by the Dunedin Enterprise Investment Trust, which is listed on the London Stock Exchange.The fundraising was led by Shaun Middleton, Dunedin's managing partner. The new fund will invest in deals in British companies in the small and mid-cap market which will have an enterprise value of between £20m and £75m.As well as the initial investment, Dunedin specialises in further consolidation of its portfolio companies. It has helped to finance nine acquisitions for CitySprint since it first backed the company's management buy-out in December 2010. As a result, CitySprint is now the UK's largest same-day courier business. Past deals include the sale of Celtic Inns to Wolverhampton & Dudley Breweries in 2006 and its backing of a £34m management buy-out earlier this year of the business technology provider, Trustmarque Solutions.