Odyssey Investment Partners closes USD3.25bn sixth investment fund

Middle market private equity firm Odyssey Investment Partners has held the first and final closing of Odyssey Investment Partners Fund VI, a USD3.25 billion private equity investment fund formed to pursue control-oriented investments and management buyouts of established middle-market companies. 

Fund VI was oversubscribed and closed at its hard cap with significant upsizing by existing investors and by adding several new institutional investors.

 
Odyssey will continue to be led by Senior Managing Principals Brian Kwait (CEO), William Hopkins (Vice Chairman) and Stephen Berger (Chairman), and Jeffrey McKibben and Craig Staub who have been promoted to Senior Managing Principal, further strengthening the firm’s leadership team. In addition, Jason Cowett, Jonathan Place and Jeff Moffett have been named Managing Principal, joining Rob Aikman, Doug Hitchner, Dennis Moore and Brian Zaumeyer. The senior investment team represents an average of 16 years of investment experience at Odyssey.
 
Kwait says: “We are sincerely grateful for the enthusiasm of our long-standing limited partners, as well as the expansion of our base with several leading global investors. Our successful fundraising effort reflects our investors’ considerable confidence in our team, which will continue to be focused on building value on their behalf in the coming years. We are grateful to Jennifer Rogg, our Head of Investor Relations, for her exceptional efforts to ensure our successful fundraise.
 
“Odyssey’s success and growth over many years is a direct result of our philosophy of internal talent development. Adding Jeffrey McKibben and Craig Staub to Odyssey’s leadership team is an important step as we look toward the future. Jeff and Craig have made extraordinary contributions to our firm as outstanding investors and leaders. Their promotions are richly deserved and we will benefit for many years to come from their enhanced roles.
 
“We are also pleased to promote Jason, Jonathan and Jeff to Managing Principal. Our people, team culture and apprenticeship approach are Odyssey’s biggest assets, and we are delighted that each of these professionals has grown significantly during their years with the firm.”
 
Odyssey will continue to execute the buy-and-build strategy it has refined over the last 25 years in the industrials and business services sectors. This focus has and will continue to result in building market leading companies led by world class management teams. Within the firm’s target sectors, particular areas of focus include aerospace, defense, insurance services, safety & testing, automated equipment & components, industrial services, equipment rental, pharma services, energy services and packaging.
 
Odyssey’s previous fund closed in 2014 with capital commitments of USD2 billion.
 
Debevoise & Plimpton LLP served as fund counsel with respect to Fund VI.