Sverica Capital Management (Sverica), a growth-oriented lower middle market private equity firm, has held the first and final close of its fifth private equity fund, Sverica Capital Partners V (Fund V).
After three months in the market, Fund V exceeded its target, was oversubscribed and closed at its hard cap of USD450 million of total limited partner commitments. Sverica will use Fund V to continue its strategy of investing in companies that are, or have the potential to be, category leaders within their respective industries. Sverica will also remain focused on businesses within the technology, business services, healthcare and high-value industrial sectors.
Dave Finley, Managing Partner at Sverica, says: “We appreciate the strong interest that was shown by the LP community in our investment strategy, enabling us to close at the hard cap within a three-month effort. This is an important step forward for Sverica that will allow us to further invest in the firm’s capabilities in our pursuit of industry-leading results.”
Sverica invests in companies at the lower end of the middle market in its sectors of focus. Fund V will target businesses with enterprise values of up to USD150 million with strong growth characteristics and differentiated solutions or products. Sverica looks for opportunities to partner with talented business leaders and assist them on their growth journeys, with the hope of achieving goals together that they would be challenged to meet without Sverica’s support. Sverica’s investment returns are driven by identifying areas to reinvest back into businesses, augmenting a company’s talent, and building systems, processes and infrastructure to scale an organisation during its investment period. Over many years, Sverica has built its own set of best practices and standard operating procedures to support a repeatable and consistent investment process that will endure over the long-term.
Jordan Richards, Managing Partner, says: “We are extremely flattered by the strong support we received from our existing investors and the positive reception from new investors. We are excited about the opportunity to continue to partner with talented executives throughout Fund V as we endeavour to help them grow category leading companies and push to new pinnacles within their respective industries.”
Frank Young, Managing Partner, says: “The success of this fundraise is a testament to our outstanding team and the passionate, hard work of a long list of current and former Sverica employees, partners and advisors. We are fortunate to have developed relationships with so many talented, high character people over the years, and are forever grateful for their contributions to Sverica and our portfolio companies.”