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Laxman Pai, Opalesque Asia: Private equity house Quad-C Management announced the final close of its newest fund, Quad-C Partners X (Fund X) wrapped up with total commitments of approximately $1.7 billion, compared to $1.1 billion for Fund IX.
The middle-market private equity firm said in a press note that the tenth flagship investment fund has received strong support from its existing investor base and several new domestic and international limited partners.
"As has been a tradition since its early days, Quad-C is fortunate to have had over $115 million of Fund X's capital committed by individual investors, with nearly $70 million coming from owners and managers of current and former Quad-C portfolio companies," the release said.
Fund X will be invested by a team of 23 investment professionals, it said.
Similar to Quad-C's prior funds, Fund X will invest in middle-market companies in partnership with owners and managers with enterprise values between $100 million and $500 million.
"As evidence of our continued focus on founder-owner recaps in the middle market, 16 of the 27 platform investments in Funds VIII and IX were companies in which Quad-C was the first institutional investor. All deals had significant rollover investments by the management teams and founders and fell into Quad-C's targeted industry verticals. Fund X is currently 20.6% invested," the release added.
Ropes & Gray LLP advised Quad-C on the fundraising. The firm did not wor...................... To view our full article Click here
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