Constitution Capital Partners (CCP) has closed its latest fund, Ironsides IV, with total capital commitments of $755 million. The new fund was oversubscribed and exceeded the original $500 million target. Commitments to Ironsides IV came from new and existing investors and included public pension plans, corporations, Taft Hartley plans, foundations, endowments, and family offices from the US, UK, Europe, South America and Asia.
CCP’s earlier fund – Ironsides III – closed in June 2015 with $823 million in capital commitments. “We are pleased that investors have once again placed their trust in us and are confident this capital will enable us to execute on our disciplined and value-oriented investment strategy in an opportunistic market,” said Daniel Cahill, Managing Partner of CCP. “We appreciate the support from our existing and new investors and sincerely thank them for their commitment to CCP.”
Ironsides IV invests in private equity funds and also makes direct investments in North America-based small to mid-cap companies. The firm invests in funds that have from $200 million to $1.5 billion in total commitments and makes direct investments in companies that have enterprise values from $100 million to $1 billion. To date, Ironsides IV has completed four direct investments and seven fund investments
“The demand for our latest fund underscores the capability of our team, our unique strategy, and our consistent track record of delivering strong returns,” said John Guinee, Managing Partner of CCP. “We look forward to leveraging our industry expertise to pursue and capitalize on promising investment opportunities in primary funds and direct investments.”
Constitution Capital Partners, now with $2.7 billion of assets under management, is headquartered in Boston (www.concp.com).
© 2017 Private Equity Professional | January 12, 2017