American Industrial Partners (AIP) has held a first and final close of its sixth fund at the hard cap of $1.8 billion in limited partner commitments. The firm began raising this fund in July 2015.
Fund VI – like earlier funds – will make equity and debt investments in North American-headquartered industrial companies whose sales are greater than $75 million. Transaction values are typically less than $500 million.
“AIP has produced attractive returns across multiple economic cycles through our operational, sector-focused approach. We will continue to target well positioned industrial businesses that can benefit from the development and execution of our operating agendas,” said Dino Cusumano, Partner at AIP.
Institutional limited partners in the new fund include endowments, insurance companies, funds of funds, gatekeepers, family offices, pension plans and sovereign wealth funds.
“We are humbled and grateful for the overwhelming support that we received from our long-standing investor base and very pleased with the commitments of new world-class limited partners,” said Kim Marvin, a Partner at AIP.
Acalyx Advisors (www.acalyx.com) was the lead placement agent used by AIP on this fundraise. Acalyx is a New York City-based placement agent that was formed earlier this year by Jennifer Rinehart, formerly a Managing Partner at MVision.
“The quality and quantity of limited partners demand was extraordinary and we were able to broaden the highly-attractive existing AIP investor base from both a strategic and international standpoint,” said Ms. Rinehart.
“We have long considered the partners at Acalyx to be an extension of our own team, as they have been advocates of AIP for nearly a decade. They helped attract strategic and industrial-oriented partners, and directed our fund raising processes with speed and efficiency,” said Mr. Marvin.
MVision Private Equity Advisers (www.mvision.com) acted as fundraising advisor to AIP on certain Middle East and Asia-based limited partners.
American Industrial Partners was founded in 1989 and is headquartered in New York (www.americanindustrial.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 10-2-15
