Quad-C Hits Hard Cap

Quad-C Hits Hard Cap

Quad-C Management has closed its latest fund, Quad-C Partners IX, LP, at an oversubscribed $1.1 billion. The final close was above the target of $800 million and was at the hard cap.

Quad-C began fundraising in mid-July and completed the raise in early January.  The firm did not use a placement agent. $55 million of Fund IX’s capital was invested by individuals, the majority of whom were owners and managers of Quad-C portfolio companies.

As with earlier funds, Fund IX will invest from $35 million to $125 million of equity in companies with enterprise values of $75 million to $400 million. Sectors of interest include business services, consumer, general industrial, healthcare, specialty distribution and transportation and logistics. Quad-C has a team of 17 investment professionals and is headquartered in Charlottesville, VA (www.quadcmanagement.com).

Quad-C has not closed on any new investments yet for Fund IX but currently has a specialty distribution company under letter of intent and expects that this transaction will close in the next few weeks. Five other  platform opportunities are also under serious investment review at the present time.

Quad-C’s earlier fund, Quad-C Partners VIII, LP, closed in 2012 with $700 million of commitments. Of the 13 transactions Quad-C completed in Fund VIII, eight were companies in which Quad-C was the first institutional investor, and every transaction had significant rollover investments by the management teams and founders. In its 25-year history, Quad-C has invested over $2.5 billion of equity across more than 50 companies.

Ropes & Gray provided legal services to Quad-C for this fundraise.

© 2017 Private Equity Professional | March 7, 2017

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