Buyouts Snapshot: Cyprium reaches $460 mln in long fundraise after KeyCorp spinoff

Cyprium Partners has raised $460 million for Cyprium Investors IV LP, a private equity pool launched after the firm spun off from KeyCorp, the firm confirmed on Wednesday.

Cleveland-based Cyprium Partners filed its first Form D for Cyprium Investors IV in October, 2012, according to regulatory disclosures by the firm, recording its first date of sale as Oct. 24, 2012. Its most recent Form D amendment on Oct 31, 2014 disclosed about $414 million in commitments for the fund via 45 investors.

It’s not clear how much the fund was targeting, though in a 2011 interview with Buyouts, Cyprium managing partner Leland Lewis said the target for Fund IV “will be similar to past funds.” The principals raised $500 million for their most recent fund under the KeyCorp banner, KPP Investors III, in 2007.

Cyprium Partners did not return a phone call.

Along with fundraising, Cyprium has been busy on the deal front since 2012. It has exited Alpha Sintered Metals, Convergint Technologies LLC, Imperial Bag & Paper Co., Kellermeyer Building Services and Asimco Technologies Ltd, among others, according to the firm’s website. It’s also invested $15 Million in MGS Mfg. Group Inc.

Cyprium listed John Sinnenberg, Michael Conaton, Cindy Babitt, Ted Laufik, Nicolas Stone, Daniel Kessler, Beth Laschinger, Philip Curatilo, W. Rond and Lewis as related persons on its Form D filing for the fund. All are listed under a variety of titles as investment professionals at Cyprium, with Sinnenberg listed as chairman, according to the firm’s website.

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