Inverness Graham has held a final closing of Inverness Graham Investments III with $283 million of total capital commitments. The new fund was oversubscribed and closed above its initial target of $225 million.
Inverness Graham did not use a placement agent and the fundraising was completed in just six months. The new fund’s limited partner base consists of pension funds, endowments and foundations, insurance companies, fund of funds and family offices.
“We are very fortunate to have received such strong support from our existing investor base and we appreciate our new investors, with whom we look forward to building long‐term relationships,” said Ken Graham, Managing Principal at Inverness Graham. “We believe our track record, operational resources, and differentiated, repeatable model for value creation sets us apart in the lower middle market and provides a foundation for a durable competitive advantage.”
The new fund will continue the strategy employed by Inverness Graham’s first two funds by investing in lower middle market value-added manufacturing and service companies with revenues from $10 million to $50 million, EBITDA’s between $3 million and $10 million, and enterprise values of less than $75 million.
Inverness Graham manages $500 million in capital commitments and was formed by senior executives of the Graham Group, an industrial and investment concern with interests in plastics, packaging, recycling, building products and outsourced manufacturing. Inverness Graham is based near Philadelphia in Newtown Square, PA (www.invernessgraham.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 6-9-15
