The private equity arm of PPM America (PPM), PPM America Capital Partners (PPMACP), has held the final closing of its eighth co-investment fund, PPM America Private Equity Fund VIII (together with its parallel fund, Fund VIII), at $600m.
The 2021 vintage vehicle is PPMACP’s largest to date, surpassing the firm’s previous fund, which closed in 2018.
Fund VIII will continue to invest in a diversified pool of co-investments alongside top-tier buyout and growth equity sponsors. Fund VIII will target approximately 50 co-investments, will be diversified by vintage year, sponsor and sector/industry and will typically allocate between $10m to $25m per co-investment.
Since 1996 and encompassing several market cycles, PPMACP has consistently participated in the co-investment space on behalf of its clients – raising eight funds totalling over $4bn in historical commitments and closing over 250 deals across 50-plus sponsors. Investments focus primarily on North American buyout and growth opportunities.
