Private equity firm Pfingsten Partners, L.L.C. today announced the closing of its fourth investment fund, Pfingsten Partners Fund IV, L.P., with capital commitments of $525 million. The firm will continue investing in middle market manufacturing, distribution and business service companies and executing its strategy of building better businesses through operational improvements, professional management practices, global capabilities and profitable business growth rather than financial engineering.
Fund IV, which had a target of $400 million, was significantly over-subscribed. Pfingsten Partners will build a diversified portfolio of approximately 20 platform investments in Fund IV, with transaction values between $15 million and $100 million.
INFO SOURCES
Pfingsten Partners
FIRMS
Pfingsten Partners is an operationally oriented private equity firm founded in 1989. From its headquarters in Chicago and office in Hong Kong, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth rather than financial engineering. Since completing its first investment in 1991, Pfingsten Partners has acquired 59 manufacturing, distribution and business service companies.
ADVISORS
Pfingsten Partners did not use a placement agent for Fund IV. Patronus Capital Advisors, L.L.C. acted as an administrative advisor.
PEOPLE
Thomas S. Bagley, Founder and Senior Managing Director
John H. Underwood, Senior Managing Director
INVESTORS INCLUDED
The investor base for Fund IV is comprised of institutional investors (83%) and high-net-worth individuals, families and Pfingsten Partners professionals (17%). Approximately 20% of Fund IV capital commitments came from overseas investors.
NOTE
Pfingsten Partners Fund IV, L.P. closed on April 30.
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