Thompson Street Capital Partners has held a final close of TSCP IV with $640 million in commitments. Fundraising for the new fund began in September 2015 and closed in December 2015. The total commitments of $640 million exceeded the fund’s target of $500 million and the original hard cap of $600 million.
Thompson Street makes investments in companies with annual revenues between $20 million and $200 million and EBITDA between $4 million and $15 million. Since its founding in 2000, Thompson Street has acquired more than 100 companies in the business services, healthcare services and engineered products sectors. The firm has managed more than $800 million in equity across three prior funds, with a focus on investing in founder-led middle market companies in North America. TSCP IV will remain consistent with that strategy. Thompson Street is based in St. Louis (www.tscp.com).
“We are pleased that our investment approach and track record strongly resonated with limited partners around the world,” said Jim Cooper, Managing Partner at Thompson Street. “Now in our fourth fund, we are confident that our focus on founder-led businesses and expertise in the business services, healthcare services and engineered products industries will continue to help businesses accelerate growth – creating value for founders, management teams and our investors.”
Kirkland & Ellis (www.kirkland.com) provided legal advice to Thompson Street for the fundraise. Kirkland’s private funds practice is one of the industry’s largest and since 1995 Kirkland’s private funds lawyers have represented approximately 430 private equity sponsors in more than 800 total funds, raising more than $570 billion.
The Kirkland team was led by private funds partners Bruce Ettelson and John Muno and associate Zack Oswald; corporate associate Trevor Mayer; investment management partners Scott Moehrke and Corey Zarse; tax partner Don Rocap and associate Joel Peters-Fransen; and employee benefits partner Laura Bader and associate Erica Lauren Buerger.
Park Hill Group (www.parkhillgroup.com) served as the placement agent for TSCP IV.
© 2015 PEPD • Private Equity’s Leading News Magazine • 12-16-15