American Securities has held a closing of its sixth fund, American Securities Partners VI, L.P., with total capital commitments of $3.6 billion. The fund closed above its $3 billion target and more than 50% larger than its $2.3 billion predecessor, American Securities Partners V, L.P.
Investors in the new fund include some of the world’s leading high net worth individuals and families, endowments and foundations, as well as pension funds and sovereign wealth funds. “We are delighted to continue investing on behalf of many long-standing relationships. At the same time, we are also pleased to have attracted select new investors. This partnership provides us with equity capital to continue supporting additional strong management teams,” said American Securities CEO, Michael Fisch.
American Securities generally invests in businesses with $500 million to $2 billion of revenues and $50 million to $200 million of EBITDA. Investments are undertaken with conservative financial structures that typically include only equity and senior debt. The firm aims to invest $150 million to $500 million of equity capital in each portfolio company. Sectors of interest include industrial manufacturing, specialty chemicals, aerospace and defense, energy, business services, healthcare, media, restaurants, and consumer products.
“For the past 18 years, we have worked to position American Securities as a preferred partner of management teams. We have delivered on that partnership through our support of each management team behind which we invest, a consistent long-term investment approach, our conservative capital structures, and our value-added Resources Group. We are excited about investing our sixth fund into a variety of market-leading companies,” said David Horing, a Managing Director of American Securities.
American Securities is led by a team of eight Managing Directors who average more than 15 years together. In addition to Messrs. Fisch and Horing, they are Charles Klein, Paul Rossetti, Matthew LeBaron, Marc Saiontz, Kevin Penn, and William Fry. The American Securities team also includes more than 20 investment professionals, as well as more than 20 Resources Group professionals. The Resources Group is comprised of senior executives with functional expertise who are “on call” to help portfolio company CEOs and their management teams, at no cost to the companies, for projects CEOs have prioritized.
American Securities has over $9 billion under management and is headquartered in New York, NY with an office in Shanghai, China (www.american-securities.com).