ACON has closed its oversubscribed fourth U.S. private equity fund at a hard cap of $1.07 billion. ACON Equity Partners IV LP will focus on mid-market companies. The pool’s limited partners include public and private pensions, sovereign wealth funds and insurance companies. Evercore Private Funds Group was the placement agent while Hogan Lovells was the main counsel for the fund.
Washington, DC, May 16, 2017 – ACON Investments, L.L.C. and its affiliates (“ACON” or the “Firm”) announced today that on May 15, 2017, the Firm held the successful final closing of ACON Equity Partners IV, L.P. (“AEP IV” or the “Fund”) closing on commitments of approximately $1.07 billion, its hard cap.
The Fund represents ACON’s fourth U.S. investment fund targeting mid-market control investments primarily in U.S. businesses.
AEP IV was significantly oversubscribed in relation to its target commitments of $850 million with substantial re-commitments from existing ACON investors as well as several new Limited Partners. The Fund’s investors include public and private pensions, sovereign wealth funds, insurance companies and other institutional investors from North America, Asia, and Europe. The Fund has already closed its first two investments – a take-private of an infrastructure services business and a control investment of a specialty pharmacy business. Additionally, the Fund has a robust pipeline of opportunities currently under review.
Evercore Private Funds Group acted as global placement agent and Hogan Lovells served as ACON’s primary fund counsel.
About ACON Investments
ACON Investments, L.L.C. is a Washington, DC-based international private equity investment firm that manages private equity funds and special purpose partnerships that make investments in the United States and Latin America. Founded in 1996, ACON has responsibility for managing approximately $5.5 billion of capital. ACON has professionals in Washington, DC, Los Angeles, Mexico City, São Paulo and Bogotá.
Its portfolio firms employ approximately 43,000 globally. For more information, visit www.aconinvestments.com.