Alchemy was established in 1997 to focus on mid-market private equity deals. Alchemy has built a reputation for doing difficult deals and public to private transactions. Whilst generalist, the firm has particular expertise in financial services and business services.

The Private Equity team advises the Alchemy Investment Plan, a non-standard fund with over £1bn in assets.

In 2006, Alchemy created a special opportunities business to exploit what it felt would be the over extended leveraged credit market. The Alchemy Special Opportunities team was therefore established that year and now manages a £300m fund focusing on special opportunities, from distressed debt investing to litigation funding.

In 2007, Alchemy entered into a joint venture with emerging markets fund manager Ashmore Investments (UK) Limited for an Indian Development Capital Fund.