Middle market investor ACON Investments has held a final closing of ACON Equity Partners IV, LP (AEP IV) at the hard cap of $1.07 billion. The new fund’s original target was $850 million.
AEP IV received commitments from existing ACON investors as well as several new limited partners. The fund’s investors include public and private pensions, sovereign wealth funds, insurance companies and other institutional investors from North America, Asia, and Europe.
ACON invests from $20 million to $150 million of equity capital in middle-market companies. The firm pursues a theme-based investment strategy by focusing on industries and businesses at key inflection points in their development and pursues these opportunities in partnership with established management teams. The firm was founded in 1996 and has offices in Washington, DC (headquarters); Los Angeles; Mexico City; Sao Paulo; and Bogota (www.aconinvestments.com).
ACON has already closed its first two investments for AEP IV: in November 2016 it acquired BioMatrix Specialty Pharmacy, a Florida-based specialty pharmacy platform
company with a focus on both infused and oral specialty drugs; and earlier, in February 2016, it acquired in a public-to-private transaction Florida-based APR Energy, a provider of large-scale power generation services through a fleet of mobile power generation equipment.
Evercore Private Funds Group was ACON’s global placement agent for this fundraise and Hogan Lovells served as ACON’s primary fund counsel.
© 2017 Private Equity Professional | May 17, 2017