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KPS Capital Partners closes USD3.5bn KPS Special Situations Fund IV

Private equity firm KPS Capital Partners has held the first and final closing of KPS Special Situations Fund IV with USD3.5bn in investor capital commitments.

 
The fund will be focused on controlling investments in corporate carve-outs, turnarounds, restructurings, bankruptcies and other special situations.
 
KPS Fund IV, which had a USD3.0bn target, is the third oversubscribed institutional private equity fund raised by KPS. The fundraise was completed in under three months.
 
Michael Psaros (pictured) and David Shapiro, co-founders and managing partners of KPS, say: "We are humbled by the demand from the global investment community for KPS Fund IV and we are very grateful for the support of a group of prestigious investors from North America, Europe, Asia and Australia. 
 
"We believe that the demand for the fund reflects our ability, over decades and across economic cycles, to add real value as a general partner by seeing value where other investors do not, buying right and making businesses better.  We believe our success is the result of our operations focused investment strategy, the long term continuity of our partnership and the strength of our core investment team."
 
The KPS Fund IV investment team will be managed by partners Psaros, Shapiro, Raquel Palmer and Jay Bernstein.
 
The investment period for KPS Fund IV will commence following the conclusion of KPS Special Situations Fund III’s investment campaign.
 
Paul, Weiss, Rifkind, Wharton & Garrison served as legal counsel in the formation of KPS Fund IV.

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