Argonaut Private Equity, a Tulsa, Oklahoma-based private equity fund, has held the initial closing of Argonaut Private Equity IV, with commitments totalling over USD230 million.
Argonaut will continue to leverage its established record of disciplined investing across the energy services, industrials and manufacturing industries in Middle America.
“We are extremely pleased with the results of our first close, which includes both returning and new limited partners,” says Steve Mitchell, CEO and Managing Director of Argonaut. “Our growing team continues to pursue unique, off-market opportunities that we believe can create significant value for both our partners and our investors.”
Following today’s initial closing, additional commitments are expected from several limited partners after the completion of their internal review and approval processes.
“This Fund will continue Argonaut’s strategy of partnering with Middle America’s best-in-class operators to build strong companies that create true, long-term value,” adds Kelby Hagar, President of Argonaut.
Argonaut’s prior fund, Argonaut Private Equity Fund III, closed at USD600 million in July 2016.
