SK Capital Partners has held a final closing of SK Capital Partners Fund V LP with total committed capital of $2.1 billion. The firm’s earlier fund was raised in 2014 with $1.0 billion of capital.
Investors in Fund V include public pension funds, insurance companies, fund-of-funds, endowments, sovereign wealth funds, foundations and family offices.
“We are pleased by the tremendous demand for Fund V. Both the quality and diversity of our limited partners is indicative of their broad support for SK Capital’s disciplined strategy and strong team that incorporates both deep industry experience and diverse operating skill sets to deliver our targeted returns,” said Barry Siadat, co-founder and managing director of SK Capital.
SK Capital specializes in the specialty materials, chemicals and pharmaceuticals sectors and typically invests equity of $100 million to $200 million in each portfolio company.
“We are grateful to our longtime limited partners for their continuing support and are delighted to welcome a number of new institutional investors to the SK Capital family,” said Jamshid Keynejad, co-founder and managing director of SK Capital.
In October 2018, the firm made its first Fund V investment with the acquisition of Schenectady, NY-based SI Group, a manufacturer of specialty chemical additives and intermediates that are used in a range of end markets including pharmaceuticals, plastics, oil and gas, and tires. SI Group operates 20 manufacturing facilities in 10 countries with more than $1 billion in annual sales (www.siigroup.com).
With the closing of Fund V, New York-based SK Capital now has more than $4 billion of assets under management (www.skcapitalpartners.com).
UBS was the placement agent for this fundraise and Kirkland & Ellis provided legal services.
© 2019 Private Equity Professional | February 26, 2019