ICV Partners has completed the final closing for ICV Partners III, LP (ICV III) with $400 million of committed capital. Investors in ICV III consist of a majority of returning investors from ICV’s initial funds and a new group of domestic investors that include corporate, family offices and public pension funds. MVision acted as placement agent for ICV Partners.
“We are very pleased to have met our target for Fund III as a result of the strong support from a majority of our existing investors, and are very pleased to welcome a highly regarded set of new investors to ICV,” said Willie Woods, President of ICV Partners. “Fund III is a testament to the talented and experienced team that we have built over 16 years and our firm’s teamwork and collaborative nature has proven to be a successful model that consistently builds value for our investors.”
Fund III will continue the investment strategy ICV has pursued since inception, providing operational and financial support to small businesses and their entrepreneurial management teams to improve the performance of lower middle market companies.
ICV’s previous fund was raised in 2006 with $313 million of committed capital. The firm now manages a total pool of capital of nearly $850 million.
“Fund III positions us well to continue to identify attractive investment opportunities with our team of 11 investment professionals and to partner with high quality management teams to build market leading companies. We are excited about the performance of our current portfolio of companies and are enthusiastic about the prospects for Fund III,” said Lloyd Metz, Managing Director of ICV.
ICV Partners invests in family-owned and closely-held businesses as well as corporate divestitures with revenues from $25 million to $250 million and EBITDAs from $5 million to $30 million. The firm has $850 million in capital under management. ICV Partners was founded in 1998 and has offices in New York and Atlanta (www.icvpartners.com).
2014 PEPD • Private Equity’s Leading News Magazine • 5-28-14