Webster Capital (Webster) has held the final closing of its latest fund, Webster Capital IV at its hard cap of USD875 million, exceeding its initial target of USD650 million.
The fund will allow Webster to continue to pursue its successful strategy of investing in branded consumer and healthcare service companies across the North American lower middle market.
The fundraising was oversubscribed and received commitments from both new and returning limited partners, including leading institutions from Europe, North America, Asia and Australia. Webster’s previous fund, Webster Capital III, closed in 2015 on USD416 million.
Webster IV has already made three new platform investments with a fourth under contract and scheduled to close by 30 September 2018.
David Malm, Managing Partner of Webster, says: “We are enormously appreciative of our investors’ trust and strong support of Webster IV. We have an excellent team that is working to continue generating favourable returns for our investors.”
Campbell Lutyens acted as exclusive global placement agent for the offering and Ropes & Gray acted as legal counsel.