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Laxman Pai, Opalesque Asia: Arsenal Capital Partners, which specializes in investments in industrial growth and healthcare companies, has amassed $5.4 billion for two new funds, including its first vehicle targeting fast-growing, high-technology businesses.
New York-based private equity firm said in a media release that it closed its sixth flagship investment vehicle, Arsenal Capital Partners VI LP, at $4.3 billion. The sum is significantly above both the $3 billion fundraising target and the size of the predecessor vehicle, which closed in 2019 with about $2.4 billion.
In addition, Arsenal Capital Partners Growth closed with $1.1 billion in capital commitments at its hard cap and exceeded its $750 million target of limited partner commitments.
Fund VI and the Growth Fund's investor base is comprised of leading public and corporate pension plans, family offices, endowments and foundations, and financial institutions. Investors in the funds include California Public Employees' Retirement System, Sacramento; Oregon Public Employees Retirement Fund, Tigard; and Minnesota State Board of Investment, St. Paul.
Terry Mullen, Managing Partner of Arsenal said: "We achieved a gratifying, high re-up rate from our existing institutional investors, who on average increased their commitments by 59% from the previous fund, and we are delighted to have attracted an exceptional group of new investors that will further bolster our market-leading institution."
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