American Industrial Partners said Wednesday that it closed its sixth fund at its $1.8 billion hard cap. Fund VI will seek to make equity and debt investments in North American-headquartered industrial companies with sales greater than $75 million. Acalyx Advisors acted as lead placement agent, while MVision Private Equity Advisers acted as strategic fundraising advisor on selected LPs in the Middle East and Asia.
NEW YORK, Sept. 30, 2015 /PRNewswire/ — After launching the fundraise in mid-July, American Industrial Partners (“AIP”), a leading middle market private equity firm, held a first and final close on its sixth fund (“Fund VI”) at the hard cap with $1.8 billion in LP commitments. AIP’s operationally intensive, industrial sector-focused investment approach was highly sought after by limited partners.
AIP secured commitments from a globally-diversified investor base comprised of leading endowments, insurance companies, funds of funds, gatekeepers, family offices, pension plans and sovereign wealth funds. “We are humbled and grateful for the overwhelming support that we received from our long-standing investor base and very pleased with the commitments of new world-class LPs,” saidKim Marvin, Partner at AIP. Fund VI will seek to make equity and debt investments in North American-headquartered industrial companies whose sales are greater than $75 million and are underperforming their profit potential.
“AIP has produced attractive returns across multiple economic cycles through our operationally-intensive, sector-focused approach. We are excited by the opportunity to further our strategy in Fund VI and will continue to target well positioned industrial businesses that can benefit from the development and execution of our operating agendas,” said Dino Cusumano, Partner at AIP.
“We have assembled the strongest team that we’ve ever had at AIP and we look forward to working in concert with our LP group to build world class industrial businesses,” said John Becker, Partner at AIP.
Acalyx Advisors (“Acalyx”) spearheaded the fundraising as lead placement advisor, driving to a first and final close in less than 80 days after the official launch. “We have long considered the partners at Acalyx to be an extension of our own team, as they have been advocates of AIP for nearly a decade. They helped attract strategic and industrial-oriented partners, and directed our fund raising processes with speed and efficiency,” said Kim Marvin.
“The quality and quantity of LP demand was extraordinary and we were able to broaden the highly-attractive existing AIP investor base from both a strategic and international standpoint,” said Jennifer Rinehart, Partner at Acalyx Advisors. In addition to Acalyx, MVision Private Equity Advisers acted as strategic fundraising advisor on selected LPs in the Middle East and Asia.
Simpson Thacher & Bartlett LLP served as legal counsel to AIP for Fund VI.
About American Industrial Partners
American Industrial Partners (“AIP”) is an operationally-oriented middle-market private equity firm that makes control investments in North American-based industrial businesses serving domestic and global markets. The firm has deep roots in the industrial economy and has been active in private equity investing since 1989. To date, AIP has completed over 50 transactions and currently has more than $3.5 billion of assets under management. AIP invests in all forms of corporate divestitures, management buyouts, recapitalizations and going-private transactions of established businesses with revenues of $75 million to $1 billion. For more information about AIP, visit www.americanindustrial.com.
SOURCE American Industrial Partners