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Laxman Pai, Opalesque Asia: U.S. middle-market private equity firm Vestar Capital Partners has reached a $1.1bn final close for its latest mid-market buyout fund, beating its initial target.
Vestar VII exceeded its $1 billion targets and includes a commitment of $100 million from the General Partner and its partners and affiliates.
Vestar employs a thematic approach to generate investment opportunities, leveraging its deep industry knowledge and experience to help drive transformative value creation in its three key sectors.
The fund seeks to invest in profitable and growing companies in the consumer, business & technology services, and healthcare sectors, with a focus on family- and founder-owned opportunities.
Vestar VII has already completed two platform investments to date - IRI, a global provider of big data, predictive analytics, and forward-looking insights for the consumer, retail, and media companies, and Simple Mills, a leading innovative and disruptive better-for-you food brand.
Commitments came from a select group of institutional investors, a substantial majority of whom have been previous investors with the firm, and encompass a diverse mix of investors from North America, Europe, and the Middle East, including leading charitable foundations, public and corporate pensions, financial institutions, funds-of-funds, and family offices.
The firm's prior fund, Vestar Capital Partners VI, closed at $814 million in 2013 and has made 12 investm...................... To view our full article Click here
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