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W Capital raises USD750m for fund III

W Capital Management has closed W Capital Partners III with USD750m of total capital commitments.

 
Fund III completed fundraising at its target and hard cap.
 
Fund III will continue W Capital’s mission of providing exit flexibility for private equity shareholders and growth capital for private equity backed companies.
 
Since 2001, W Capital has provided liquidity for investors looking to monetise their minority investments in private equity backed companies. W Capital also invests primary capital to support portfolio company growth either concurrently with shareholder liquidity transactions or at any time over the duration of investment.
 
Fund III has invested nearly USD100m through six completed transactions since the fund began investing in June 2012. Of the six transactions, the fund has achieved two liquidity events: in November 2012 Oriental Trading was acquired by Berkshire Hathaway and in July 2013 Neolane was acquired by Adobe Systems.
 
“We are pleased to have the opportunity to continue investing on behalf of our many supportive and long‐standing limited partners. We are also delighted to add new relationships to our investor base of leading pension funds, endowments, foundations and family offices from around the world,” says David Wachter, managing director of W Capital. “Our investors recognise the growing need for liquidity alternatives in private equity, our specialised solutions and our commitment to being the market standard for professionalism, transparency and certainty of execution.”
 
W Capital reached another milestone by investing USD1bn in total capital since inception. The firm has accomplished this by completing more than 70 transactions with a long list of referenceable counterparties encompassing many of the world’s leading general partners, financial institutions, lenders and company founders.
 
Bob Migliorino, managing director, says: “The scale W Capital has achieved to date has only been possible by focusing on providing solutions that address a selling shareholders’ requirement for fair pricing while concurrently providing ongoing shareholders and company management with confidence in W Capital’s ability to support the portfolio company to achieve optimal long‐term value.”
 
Proskauer Rose served as legal counsel and Credit Suisse Securities (USA) acted as an advisor and exclusive placement agent for Fund III. 

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