Water Street Looks to Raise $650 Mln, Catterton Officially Out Marketing


It’s time to catch-up on some fundraising news.

Water Street Healthcare Partners, a Chicago private equity firm, is looking to raise $650 million for its third fund, according to Dow Jones LBO Wire. The pool will have a $750 million cap, the story says.

The Chicago PE firm is out talking to existing LPs right now, DJ says.

Why are we interested? Because peHUB, back in May, reported that Water Street would be out fundraising this year for their third pool. The PE firm, which focuses on the healthcare industry, raised $650 million in 2008 with Water Street Healthcare Partners II LP. A net IRR for the fund wasn’t available but the pool had an investment multiple of 1.64x, according to Sept. 30 data from the University of California Regents.

In other fundraising moves, Catterton Partners, a consumer focused PE firm, is officially out marketing. According to a June 7 SEC filing, Catterton is looking to raise $1.2 billion for its seventh fund, Catterton Partners VII LP. Several days earlier, on June 4th, peHUB reported that Catterton was finally out fundraising for its long-awaited U.S. focused buyout fund.

The firm’s last buyout fund, Catterton Partners VI LP, raised $1 billion in 2006. The pool has generated an IRR of 8.58%, according to Sept. 30 data from PSERS.

Catterton, this week, invested an undisclosed amount into Edible Arrangements, which sells hand-sculpted arrangements of fresh fruit.

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