Wed, 11/01/2017 - 13:43
Private equity firm Constitution Capital Partners (CCP) has held the final close of Ironsides IV and related segregated mandates with total commitments of USD755 million.
Ironsides IV was oversubscribed and significantly exceeded the original USD500 million target.
As with its predecessor fund, Ironsides IV will focus on investments in primary funds with USD200 million to USD1.5 billion in commitments and direct investments with enterprise values between USD100 million and USD1 billion.
To date, Ironsides IV has completed four direct investments and seven fund investments.
Commitments to Ironsides IV came from a diverse group of new and existing global investors comprised of public pension plans, corporates, Taft Hartley, foundations, endowments and family offices.
“We are pleased that investors have once again placed their trust in us and are confident this capital will enable us to execute on our disciplined and value-oriented investment strategy in an opportunistic market,” says Daniel M Cahill, managing partner of CCP. "We appreciate the support from our existing and new investors and sincerely thank them for their commitment to CCP.”
John J Guinee, managing partner of CCP, says: “The significant demand for our latest fund underscores the capability of our team and our unique strategy, and our consistent track record of delivering strong returns. We look forward to leveraging our industry expertise to pursue and capitalise on promising investment opportunities in primary funds and direct investments.”
CCP makes strategic investments in high quality, North American lower middle market buyout funds and makes direct investments across a variety of sectors in North American lower middle market companies. The firm currently manages approximately USD2.7 billion of assets.
Ropes & Gray provided legal counsel to Constitution Capital Partners during the formation of the fund.
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