Carousel Closes Fund V
Search

Carousel Closes Fund V

Carousel Capital has closed its fifth buyout fund, Carousel Capital Partners V, LP, at the hard cap of $400 million. The firm completed the raising of Fund V in just over three months and it was more than three times oversubscribed from its initial target of $300 million.

For the new fund, Carousel received support from its existing investors and attracted a diverse group of new institutional investors including pension funds, endowments, foundations, insurance companies and other established institutional investors. Carousel’s fourth buyout fund, Carousel Capital Partners IV, LP, closed at $265 million in January 2013.

Carousel Capital invests in business, consumer and healthcare services companies that are headquartered in the Southeastern United States that have enterprise values of up to $150 million and EBITDA of at least $3 million. Since its inception in 1996, Carousel has invested in 36 companies. The firm is led by three Managing Partners – Charles Grigg, Bill Hobbs and Jason Schmidly – and is based in Charlotte (www.carouselcapital.com).

As with earlier funds, Carousel’s investor base includes both institutional investors and a group of more than 100 current and former CEOs that have significant operating experience. Fund V included an offering to this group of CEO’s which was fully subscribed.

Credit Suisse Securities (USA) was Carousel’s financial advisor and placement agent for this fund raise and Latham & Watkins served as legal counsel.

© 2017 Private Equity Professional | January 10, 2017

To search in site, type your keyword and hit enter