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Bailey McCann, Opalesque New York: Rosemont, Illinois based private equity firm Wynnchurch Capital has closed its sixth fund on $3.5 billion. The fund beat its $3 billion target.
Wynnchurch was in market for just five months with the fund - a quick turnaround in a fundraising environment that is proving to be a little uneven for private equity managers.
News of the close comes as Wynnchurch has been adding headcount. The firm brought on Brett Burns as an associate on the investment team in November. Burns joined the firm from investment bank Houlihan Lokey. The firm also added five new people to its finance and administration teams in the same month.
Wynnchurch focuses on investments in middle market companies in the United States and Canada. Wynnchurch will specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs, and restructurings. The firm was founded in 1999 and manages $9.2 billion of regulatory assets under management.
"The fund will leverage the firm's proven investment approach, which combines focused sector expertise, a collaborative partnership philosophy, and a commitment to operational excellence to help portfolio companies achieve significant value creation," said Frank Hayes, Managing Partner at Wynnchurch.
Wynnchurch has already started investing out of fund six. In September, Trimlite, a Wynnchurch Capital portfolio company, acquired Francis-Schulze Company, a leading value-added distributor of ext...................... To view our full article Click here
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