|
Laxman Pai, Opalesque Asia: TJC, formerly known as The Jordan Company, held the final close of its second continuation fund with $2.1 billion, which will be an extension of The Resolute Fund III.
According to a media release from the middle-market private equity firm investing primarily in North American businesses, the Continuation Fund purchased a total of five portfolio companies including assets from Resolute III, a 2013 vintage fund with approximately $3.2 billion in capital commitments and a portfolio company Resolute III jointly owned with Resolute IV, a 2018 vintage fund with approximately $3.6 billion in capital commitments.
The Continuation Fund will give TJC time and capital to accelerate the growth of core portfolio assets while offering limited partners from Resolute III and Resolute IV an opportunity to achieve liquidity promptly, the release pointed out.
"As we drive ongoing acquisition integration and operational initiatives within the Continuation Fund portfolio, we believe this transaction will enable us to provide the Fund's portfolio companies with greater resources, time, and flexibility to execute these strategies which will continue to build shareholder value," said Rich Caputo, Chairman and Chief Executive Partner of TJC.
"We have given our investors an option to take accelerated liquidity at a market-driven price while allowing the portfolio companies the opportunity to continue to pursue their long-term growth plan...................... To view our full article Click here
|
RSS
