CI Capital Partners has closed its third fund, CI Capital Investors III, LP, at the target and hard cap of $750 million. With the closing of Fund III – the new fund was in the market for less than three months – CI Capital now has $1.9 billion of assets under management.
Fund III will continue CI Capital’s strategy of making control investments in middle‐market buyouts primarily in North America. The firm invests from $25 million to $100 million in middle market companies in the following sectors: business services, consumer services, distribution, government services and defense, and light manufacturing. Since its founding in 1993, CI Capital and its portfolio companies have made more than 150 acquisitions representing over $7 billion in enterprise value. The firm is based in New York (www.cicapllc.com).
According to CI Capital, the new fund got strong support from its existing investors and the firm selectively added new investors including endowments, foundations, pension funds, financial institutions and family offices. CI Capital’s founding CEO Frederick Iseman and other investment professionals at the firm have also made personal capital commitments to Fund III of over $100 million.
“We are pleased to announce the final closing of Fund III. We appreciate the trust both our existing and new investors have shown us,” said Mr. Iseman. “The successful fundraising underscores both the strength of our team and our investors’ enthusiasm for our investment approach. We look forward to investing Fund III on behalf of all our investors.”
Monument Group, a fund placement agent with offices in Boston, London, Tokyo and Hong Kong, assisted CI Capital Partners with raising Fund III.
“Monument Group was privileged to work with CI Capital on this very successful fundraise,” said John McCormick, Managing Director at Monument Group. “The significant investor interest and support was among the strongest Monument Group has seen in our more than 20 year history and is a testament to the CI Capital team’s depth and breadth of experience.”
Since its founding in 1994, Monument Group has assisted in raising 74 funds with a total of $81 billion of equity across a range of investment strategies (www.monumentgroup.com).
Wachtell, Lipton, Rosen & Katz served as legal counsel on the Fund III capital raise.
© 2016 PEPD • Private Equity’s Leading News Magazine • 1-6-16