Vistria Closes Third Fund

The Vistria Group has held a final hard cap closing of Vistria Fund III LP with $1.1 billion of capital commitments. Fund III was oversubscribed and beat its original target of $800 million. The capital for the new fund includes a $100 million commitment from Vistria’s principals and operating partners.

Vistria’s third fund follows its second fund which closed in 2017 with $872 million of commitments. Together with several co-investment vehicles raised since 2014, Vistria now manages more than $3 billion of institutional capital.

“We are very proud to have built a successful organization that is supported by a premier institutional investor group made up of long-standing existing and new limited partners, as well as a talented team of professionals with deep domain expertise across our targeted industries,” said Martin Nesbitt, co-CEO and senior partner of Vistria. “The successful closing of Fund III will allow us to further capitalize on the investment opportunities that we are currently seeing in the middle market and clearly reflects the strength of our differentiated approach to growing and transforming businesses.”

“We are very grateful for the overwhelming support from our limited partners throughout an accelerated and oversubscribed fundraising process,” said Kip Kirkpatrick, co-CEO and senior partner. “We believe that our deep network and differentiated investment approach in our targeted industry sectors gives us the ability to consistently identify unique investment opportunities that resonate well with investors amidst a highly competitive market. Our mission is to create a next-generation private investment firm that builds great companies that drive meaningful impact in our targeted sectors.”

Chicago-headquartered Vistria invests in middle-market companies that are active in the healthcare, education, and financial services industries.  Since 2014, the firm has invested in 20 portfolio companies.

Recently, in August 2019, Vistria added-on to its St. Croix Hospice platform with the buy of Hometown Hospice & Homecare, a Wisconsin-based provider of hospice services. With this acquisition, St. Croix now provides hospice care to more than 2,000 patients a day through a network of 30 office locations in Minnesota, Iowa, Wisconsin, Nebraska, and Kansas. The company, founded in 2008, has more than 800 employees and is headquartered near Minneapolis in Oakdale, Minnesota. St. Croix Hospice was acquired by Vistria in September 2017 from Clearview Capital and was Vistria’s first investment for its second fund.

© 2020 Private Equity Professional | January 8, 2020

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