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Alternative Market Briefing

Sterling Group closes latest fund on $3.5 billion
Tuesday, April 23, 2024

Bailey McCann, Opalesque New York:

Houston-based private equity firm Sterling Group has closed its latest fund on $3.5 billion. The fund beat its target of $2.75 billion and hit its hard cap.

This marks the sixth fund for the firm. Sterling's previous fund closed in June 2020 with $2.0 billion of limited partner commitments.

The majority of Fund VI's capital was committed by returning investors the firm said in a statement. Fund VI will primarily target corporate carve-outs and family businesses in the industrial sector.

Typical enterprise values of these companies......................

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