ACON Exceeds Target; Closes Fund 3 at $751 Million
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ACON Exceeds Target; Closes Fund 3 at $751 Million

ACON Investments has held a final closing of its most recent U.S. middle market fund, ACON Equity Partners III, L.P., with total commitments of $751 million. The new fund was significantly oversubscribed.

Investors in the fund include public pension funds, endowments, insurance companies, fund‐of‐funds and family offices from the US, Europe, Asia, and the Middle East. The fund held its first closing in early 2012.

“We believe the successful capital raise highlights the attractiveness of our deep value strategy in key focus sectors when executed by a team with the experience and relationships of the ACON team,” said Ken Brotman, Founding Partner. “We received strong investor demand for this fund and are deeply gratified by the confidence in ACON demonstrated by our limited partners. We appreciate the continued support of our investors and welcome new investors in the fund.”

The new fund has already made several investments and has in place a pipeline of new opportunities, principally focused on acquiring energy or energy related businesses, businesses driven by the consumer, including retail, and demographic/structural change in the larger economy.

Mercury Capital Advisors (www.mercurycapitaladvisors.com) acted as the global placement agent for the fund. “Mercury Capital Advisors is delighted to have assisted the ACON team in reaching their goals of a successful fund raising with an outstanding group of limited partners globally,” said Alan Pardee, a Managing Partner of Mercury.

ACON invests from $20 million to $150 million of equity capital in middle-market companies. The firm pursues a theme-based investment strategy by focusing on industries and businesses at key inflection points in their development and pursues these opportunities in partnership with established management teams. The firm has offices in Washington, DC; Los Angeles; Mexico City; and Sao Paulo (www.aconinvestments.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 6-10-13

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