Alternative investment manager Constitution Capital Partners, focused on North American private equity and private credit, has held a final close of Ironsides V at USD1 billion.
The fundraise is CCP’s largest to date, exceeding its target of USD600 million, an increase from predecessor Ironsides IV, which closed at USD755 million in December 2016.
“This latest fundraise is a testament to our team’s demonstrated track record of investing across market cycles and sectors,” said Daniel Cahill, CCP managing partner.
As with its predecessor fund, Ironsides V will focus on investments in primary funds with commitments between USD400 million to USD2 billion, and direct investment tickets in companies with enterprise values between USD100 million and USD1 billion.
“For more than three decades, we have developed deep sector expertise through fundamental research and a commitment to proactively building long-term relationships with best-in-class fund managers and high growth businesses,” said John Guinee, CCP managing partner.
Ironsides V has completed 27 direct investments and 11 fund investments to date. Commitments to Ironsides V came from a group of new and existing global investors composed of public pension plans, corporates, Taft-Hartley plans, foundations, endowments, family offices and high net worth investors.
Ropes & Gray LLP provided legal counsel to Constitution Capital Partners during the formation of the fund.
