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Alternative Market Briefing

Vistria Group wraps up third private investment fund at $1.11bn

Wednesday, January 08, 2020

Laxman Pai, Opalesque Asia:

Vistria Group, an investment firm co-founded by a friend of former President Barack Obama, is nearing the close of its third fund at $1.11 billion.

The Chicago, IL-based private investment firm focused on the middle market said in a press release that capital commitments include a $100 million commitment from the firm's Principals and Operating Partners.

Vistria Fund III was oversubscribed and closed at its hard cap. It also exceeded its $800 million fundraising target and is 27% larger than its predecessor fund, Vistria Fund II, which closed in 2017.

Vistria has closed three private equity funds and several co-investment vehicles since the closing of its first fund in 2014. Over that same period, Vistria has completed 20 portfolio company investments. Vistria Fund I closed with over $400 million in commitments.

Together with several co-investment vehicles raised since 2014, Vistria now manages more than $3.0 billion of institutional capital.

Investors in the current fund include the $54.1 billion Maryland State Retirement & Pension System, Baltimore; $43.8 billion Illinois Municipal Retirement Fund, Oak Brook; $37 billion Connecticut Retirement Plans & Trust Funds, Hartford.

Martin Nesbitt, co-CEO and senior partner of Vistria. "The successful closing of Fund III will allow us to further capitalize on the investment opportunities that we are currently seeing in the middle market and reflects the strength of our differen......................

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