Sverica Capital Management has held the final close of its fourth private equity fund, Sverica Capital Partners Fund IV LP, which exceeded its original target, was oversubscribed and closed at its hard cap of USD275 million.
Sverica will use Fund IV to continue its strategy of investing in growing business and IT services, healthcare services and high value industrial companies that have the potential to be category leaders in their respective industries.
Dave Finley, Managing Director of Sverica, says: “We appreciate the strong support shown for Fund IV from new and key existing investors. We believe the fundraise validates Sverica’s disciplined investment approach, post-transaction playbook for adding value and the resulting returns these processes have generated.”
Sverica invests in companies at the lower end of the middle market in its sectors of focus. The fourth fund will target profitable businesses with enterprise values up to USD100 million with exceptional growth characteristics and the ability to sustain or emerge into a market leading position. Sverica is less interested in the company's size than in its reputation with its customers, employees and suppliers, as well as its potential for growth and development. Sverica will then help the entrepreneur identify areas to reinvest back into the business, augment talent, and build systems, processes and infrastructure to support a much larger organisation.
Frank Young, Managing Director, says: “Our distinguished group of Limited Partners have an endless supply of options for investing their capital and we deeply appreciate the opportunity to manage investments on their behalf. We look forward to building on our team’s Fund III success in Fund IV.”
Jordan Richards, Managing Director, says: “In deploying Fund IV, we will continue to look to partner with talented entrepreneurs of growing companies while we play an active strategic and analytical role to help them build and grow their businesses for the long term.”
Sverica has already made its first investment in Fund IV in Synoptek, a rapidly growing outsourced IT managed services provider.
