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American Securities closes latest fund at $7 billion

Wednesday, February 28, 2018
Opalesque Industry Update - American Securities LLC, a leading U.S. private equity firm, today announced the first and final closing of American Securities Partners VIII, L.P with total capital commitments of $7 billion. American Securities closed the fund above the $6 billion target and at the hard cap the firm established at the outset of fundraising in October 2017.

American Securities invests in partnership with existing management teams of market-leading businesses, generally having $200 million to $2 billion of revenues and/or $50 million to $250 million of EBITDA. The firm strives to be a long-term, value-added partner to the CEOs and management teams of the companies in which it is privileged to invest. American Securities has pursued its investment strategy in a disciplined manner across business cycles and ever-evolving market dynamics since its inception in 1994. In deploying ASP VIII, the firm will generally invest $200 million to $600 million of equity capital in each situation, although larger investments are also possible.

"We are proud that our investor base has continued to expand globally, with limited partners in ASP VIII from 27 countries," said Michael G. Fisch, a Founder and CEO of American Securities. "We greatly appreciate the interest expressed in ASP VIII by many long-standing relationships, as well as new investors. This new partnership provides American Securities with further equity capital to support management teams in growing their businesses."

"ASP VIII maintains the 25-year fund life potential of prior American Securities funds, allowing management teams the flexibility to always act in the best long-term interest of their businesses," stated David L. Horing, a Managing Director of American Securities, who along with Mr. Fisch, is a Managing Member of ASP VIII's general partner.

American Securities is led by an experienced and cohesive team, including 16 Managing Directors. The Managing Directors on the Investment Team average more than 13 years at American Securities. In addition to the Investment Team, American Securities' nearly 120 dedicated colleagues include 35 functional experts in the firm's Resources Group, which supports the management teams of the firm's investments.

Weil, Gotshal & Manges LLP served as fund counsel. American Securities' prior fund, American Securities Partners VII, L.P., closed in 2015 with committed capital of $5 billion.

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