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Laxman Pai, Opalesque Asia: The Chicago-based midmarket-focused Vistria Group has wrapped up its largest-ever buyout fund with $2.68 billion and is raising money for a new private-credit strategy.
The private investment firm's latest buyout vehicle, Vistria Fund IV LP, is more than twice the size of its $1.1 billion predecessor and easily exceeded a $1.5 billion target.
Vistria's principals and operating partners committed $180 million to the fund. Investors in the current fund include the $53.1 billion Illinois Municipal Retirement Fund, Oak Brook.
"Consistent with its predecessor funds, Fund IV will seek to invest in U.S.-based healthcare, education, and financial services companies that can benefit from the firm's deep network, operating expertise, and policy perspectives," said a press release from the company.
"If you look at our track record and the amount of co-investment we have generated and the size of our team, this fund size isn't a huge leap," said Marty Nesbitt, a Vistria co-founder, co-chairman, and co-chief executive.
"The launch of Fund IV extends a remarkable period of growth and transformation at Vistria. Over the last 12 months, the firm has exited several investments while investing in seven new platforms and adding ten new members to the Vistria team," said the release.
Vistria now manages more than $6.5 billion in institutional capital across its funds and co-investment vehicles.
Kip Kirkpatrick,Vistria Co-Founder, and Se...................... To view our full article Click here
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