The Vistria Group closes on USD2.68bn for flagship core private equity fund
The Vistria Group, a purpose-driven investment firm focusing on the middle market, has held final closing of Vistria Fund IV, LP, with USD2.68 billion of total capital commitments. Vistria now manages more than USD6.5 billion in institutional capital across its funds and co-investment vehicles.
Fund IV was substantially oversubscribed, closing at its hard cap and surpassing its target of USD1.5 billion. It includes a USD180 million commitment from Vistria’s Principals and Operating Partners. Consistent with its predecessor funds, Fund IV will seek to invest in US based healthcare, education and financial services companies that can benefit from the firm’s deep network, operating expertise, and policy perspectives.
“When we founded Vistria more than eight years ago, we thought there was an opportunity to build a next generation investment firm that focused on building important businesses for the long-term. Today is confirmation that our instincts were correct,” says Martin Nesbitt, Co-Founder and Senior Partner at Vistria. “We continue to challenge ourselves to build a great firm and the closing of Fund IV shows that many people think we are on the right track.”
The launch of Fund IV extends a remarkable period of growth and transformation at Vistria. Over the last 12 months, the firm has exited several investments while investing in seven new platforms and adding 10 new members to the Vistria team.
“Today could not have happened without the unwavering support of our limited partners. We are energised to continue to demonstrate our ability to produce outsized returns by embracing our key values and mission,” says Kip Kirkpatrick, Vistria Co-Founder and Senior Partner. “There will be no change in strategy going forward. We will continue to proactively and systematically identify new platforms and management teams that share our passion for building great companies.”
Since closing its first fund in 2014, Vistria has attracted a new generation of investment professionals who have embraced the responsibility to do more than just generate wealth. Its focus on aligning purpose with profit, addressing societal needs and creating value for all stakeholders continues to be at the core of everything it does.
Ropes & Gray LLP acted as legal counsel.