CORE Industrial Partners (CORE), an industrials-focussed private equity firm based in Chicago, has held the final close of CORE Industrial Partners Fund I with total commitments of USD230 million.
The Fund was significantly oversubscribed with demand in excess of an initial target of USD200 million and initial hard cap of USD225 million.
The Fund’s limited partners come from a diversified base of institutional investors including leading university endowments, insurance companies, public pensions, corporate pensions, foundations, asset managers, family offices, and fund of funds.
“We are enormously honoured and humbled by the overwhelming interest in our inaugural fund,” says John May, Founder and Managing Partner at CORE. “We credit this milestone to the track record of our experienced team of investment and operational professionals, and our investment strategy focused solely on lower middle market industrial businesses. We are incredibly appreciative of the support received from our world-class group of limited partners and look forward to the continued execution of our operationally driven value creation playbook by pursuing attractive investment opportunities that will realise significant value for all our stakeholders.”
The investment period has commenced, and the Fund has already made multiple investments. Winston & Strawn provided legal counsel. Sixpoint Partners served as placement agent.
