Sverica Capital Management LLC has closed its fourth private equity fund at its hard cap of $275 million. Sverica Capital Partners Fund IV LP will target business and IT services, healthcare services and high value industrial companies.
March 22, 2016 05:58 AM Eastern Daylight Time
BOSTON & SAN FRANCISCO–(BUSINESS WIRE)–Sverica Capital Management LLC (“Sverica”), a leading growth-oriented lower middle market private equity firm, announced today the final close of its fourth private equity fund, Sverica Capital Partners Fund IV LP (“Fund IV”). Fund IV exceeded its original target, was oversubscribed and closed at its hard cap of $275 million. Sverica will use Fund IV to continue its strategy of investing in growing business and IT services,healthcare services and high value industrial companies that have the potential to be category leaders in their respective industries.
Dave Finley, Managing Director of Sverica, said, “We appreciate the strong support shown for Fund IV from new and key existing investors. We believe the fundraise validates Sverica’s disciplined investment approach, post-transaction playbook for adding value and the resulting returns these processes have generated.”
Sverica invests in companies at the lower end of the middle market in its sectors of focus. The fourth fund will target profitable businesses with enterprise values up to $100 million with exceptional growth characteristics and the ability to sustain or emerge into a market leading position. Sverica is less interested in the company’s size than in its reputation with its customers, employees and suppliers, as well as its potential for growth and development. Sverica will then help the entrepreneur identify areas to reinvest back into the business, augment talent, and build systems, processes and infrastructure to support a much larger organization.
Frank Young, Managing Director commented, “Our distinguished group of Limited Partners have an endless supply of options for investing their capital and we deeply appreciate the opportunity to manage investments on their behalf. We look forward to building on our team’s Fund III success in Fund IV.”
Jordan Richards, Managing Director said, “In deploying Fund IV, we will continue to look to partner with talented entrepreneurs of growing companies while we play an active strategic and analytical role to help them build and grow their businesses for the long term.”
Sverica has already made its first investment in Fund IV in Synoptek, a rapidly growing outsourced IT managed services provider.
About Sverica Capital Management
Sverica Capital Management is a leading private equity firm that has raised over $700 million of investment capital across four funds. The firm acquires, invests in and actively builds companies that are, or could become, leaders in their industries. Since inception, Sverica has maintained a “high touch” operating philosophy of taking an active role in portfolio companies. Sverica devotes significant internal resources to help its management teams develop and execute growth strategies. For more information, please visit www.sverica.com.