Middle market private equity firm American Industrial Partners (AIP) has held the first and final close of its sixth fund (Fund VI) at the hard cap with USD1.8 billion in LP commitments.
AIP secured commitments from a globally-diversified investor base comprised of leading endowments, insurance companies, funds of funds, gatekeepers, family offices, pension plans and sovereign wealth funds.
"We are humbled and grateful for the overwhelming support that we received from our long-standing investor base and very pleased with the commitments of new world-class LPs," says Kim Marvin, Partner at AIP. Fund VI will seek to make equity and debt investments in North American-headquartered industrial companies whose sales are greater than USD75 million and are underperforming their profit potential.
"AIP has produced attractive returns across multiple economic cycles through our operationally-intensive, sector-focused approach. We are excited by the opportunity to further our strategy in Fund VI and will continue to target well positioned industrial businesses that can benefit from the development and execution of our operating agendas," says Dino Cusumano, Partner at AIP.
"We have assembled the strongest team that we've ever had at AIP and we look forward to working in concert with our LP group to build world class industrial businesses," said John Becker, Partner at AIP.
