ACON Investments said it raised $751.4 million for its most recent fund. ACON Equity Partners III LP was oversubscribed. Investors included public pension funds, endowments, insurance companies, fund‐of‐funds and family offices from the US, Europe, Asia, and the Middle East. Mercury Capital Advisors was placement agent.
WASHINGTON, June 7, 2013 /PRNewswire/ — ACON Investments, L.L.C. (“ACON” or the “Firm”) is pleased to announce the final closing of their most recent U.S. middle market fund, ACON Equity Partners III, L.P. (the “Fund”), with total commitments of $751,385,000. ACON was significantly oversubscribed with global investor interest. Investors in the fund include public pension funds, endowments, insurance companies, fund‐of‐funds and family offices from the US, Europe, Asia, and the Middle East. The fund held its first closing in early 2012. Mercury Capital Advisors (“Mercury”) acted as the global placement agent for the fund.
The Fund has already made several attractive investments and has in place a robust pipeline of new opportunities, principally focused on acquiring energy or energy related businesses, businesses driven by the consumer, including retail, and demographic/structural change in the larger economy. ACON expects to focus on deep value investments and works closely with its portfolio to create value through revenue growth and operational improvements. ACON expects that its deep value investments discipline and post acquisition value creation strategy will result in a compelling risk-return profile for its investors.
“We believe the successful capital raise highlights the attractiveness of our deep value strategy in key focus sectors when executed by a team with the experience and relationships of the ACON team,” said Ken Brotman, Founding Partner. “We received strong investor demand for this fund and are deeply gratified by the confidence in ACON demonstrated by our limited partners. We appreciate the continued support of our investors and welcome new investors in the fund.” Alan Pardee, Managing Partner, of Mercury added, “We at Mercury Capital Advisors are delighted to have assisted the ACON team in reaching their goals of a successful fund raising with an outstanding group of limited partners globally.”
About ACON Investments
ACON Investments is a Washington, D.C.-based private equity investment firm that manages private equity funds and special purpose partnerships in the United States and Latin America. Founded in 1996, ACON and its principals have managed over $2.0 billion of capital. ACON pursues a theme-based investment strategy by focusing on industries and businesses at key inflection points in their development and pursues these opportunities in close partnership with established management teams. ACON has offices in Washington, Los Angeles, Mexico City and Sao Paulo. For more information, visit www.aconinvestments.com