6 linked company profiles · 6 dated disclosures in this directory.
About this investor
TDR Capital manages private-equity funds investing in businesses including Asda, Stonegate pubs, David Lloyd clubs, Lyceum education, Jollyes and the joint Aggreko investment. [1][2][3][4][5]
These are selected investments, rather than a complete portfolio or shareholder register. Fund investments and client assets have separate ownership from the investment manager's corporate balance sheet. Each holding retains its evidence date and individual or shared investment scope. Stonegate brand searches include Slug & Lettuce and Be At One; Lyceum includes BPP and sibling training providers. David Lloyd's continuation-fund investors are not assigned direct equivalent company stakes. [1][6][7]
Each card names the entity invested in. Linked companies and brands can sit below that entity. Stakes use the source’s definition and date; disclosures are selected and do not give a complete portfolio or investor register. Read the investor methodology.
Disclosed holdings & backing
Fund investment
Aggreko / Albion Acquisitions investment
Joint investment with I Squared; individual percentage not supplied
Joint acquisition completed ·
TDR Capital IV acquired Aggreko jointly with I Squared Capital. The current TDR portfolio supports the continuing investment. The joint acquisition does not establish an individual 100% holding or an exact current split.
Ownership split disclosed when the transaction completed in November 2024. Later company reporting corroborates TDR control, but this dated split is not a fresh cap table. TDR manages the investing funds.
Asda · Completed transaction, 1 November 2024; disclosed 67.5%, 22.5% and 10% split
Accessed 4 Oct 2026
Fund investment
David Lloyd Leisure continuation-fund investment
Majority control through Titan; SOF I also invests
Continuation-fund transfer completed ·
TDR's completed-transfer announcement replaces TDR III with Titan; SOF I invests alongside Titan. Titan has majority control, with no numerical percentage supplied. Backers of the continuation fund are not assigned equivalent direct corporate stakes in David Lloyd.
TDR Capital · Current investment; UK and European clubs
Accessed 10 Oct 2026
Fund investment
Jollyes pet-retail platform
Majority stake; exact percentage not supplied
Transaction adviser records completion ·
Jollyes' announcement describes a managed-fund majority investment alongside other investors and management. The sell-side adviser records completion on 26 March 2024, despite the original announcement's expected April date. The current TDR portfolio supports the continuing relationship; an exact percentage and complete legal chain are not established.
The new parent brand encompasses BPP Holdings and operating providers including Estio, Firebrand, StaySharp and Buttercups Training. Those providers remain distinct entities; BPP is not assumed to own every sibling business. The current fund vehicle and numerical stake are not supplied.
Lyceum Education Group · 21 January 2026: TDR ownership, parent brand, provider names and separate operating entities
Accessed 10 Oct 2026
Fund investment
Stonegate Pub Company Limited / TDR Capital Stonegate L.P.
Control through TDR Capital Stonegate L.P.; percentage not supplied
Annual report ownership snapshot ·
The FY2025 report names Stonegate Pub Company Topco Sarl as ultimate corporate parent and TDR Capital Stonegate L.P. as ultimate controlling party. The numerical economic stake is not supplied. Pub operating businesses, individual property titles and direct investment in each brand have different scopes.
Stonegate Group · 27 March 2026: Stonegate's Be At One brand
Accessed 10 Oct 2026
Former holdings & portfolio changes
David Lloyd Leisure
TDR completed the transfer from TDR III to the Titan continuation fund on 6 November 2025, with SOF I investing alongside Titan. Titan has majority control; exact percentages are not supplied. [2][7]
Lyceum Education Group
The parent brand launched on 21 January 2026. BPP, Estio, Firebrand, StaySharp and Buttercups remain distinct operating providers under the wider education group. [6]
Keepmoat Homes
TDR announced completion of its sale to Aermont-managed funds on 27 October 2021. Keepmoat is excluded from current TDR holdings here. [8]
About & portfolio changes: sources · 8
Research reviewed . Sources for individual investments are included on their disclosure cards.