CIVC Partners LP has closed its sixth fund at $525 million, beating its $450 million target. Fund VI’s limited partners included insurance companies, fund of funds, pension programs, foundations and endowments, family offices, a sovereign wealth fund and financial institutions located across the U.S. and Europe. M2O Private Fund Advisors served as placement agent while Kirkland & Ellis LLP served as legal counsel.
CHICAGO, Nov. 9, 2020 /PRNewswire/ — CIVC Partners, LP (“CIVC”), a Chicago-based middle market private equity firm, is pleased to announce the closing of CIVC Partners Fund VI, LP (the “Fund” or “Fund VI”), on $525 million of commitments from limited partners, surpassing the target of $450 million and original hard cap. Fund VI received support from a diverse group of existing and new investors, including insurance companies, fund of funds, pension programs, foundations and endowments, family offices, a sovereign wealth fund, and financial institutions located across the United States and Europe. CIVC closed its predecessor fund in March 2017 on nearly $400 million of total commitments.
Led by investment partners John Compall, Marc McManus, Chris Perry, Scott Schwartz, and JD Wright, CIVC makes buyout and growth equity investments in the lower middle market, targeting business services companies with EBITDA levels above $5 million located in the United States and Canada. Consistent with prior funds, Fund VI will employ CIVC’s immersion-based sourcing strategy to invest in growing companies and partner with management teams to drive value through organic growth, new products/channels, greenfield expansion, and selective add-on acquisitions.
“We could not have asked for a better way to finish our 50th year in existence than with this successful raise of Fund VI during such challenging times,” said Chris Perry, Partner. “We are thankful to our existing limited partners who supported a new commitment to Fund VI and all our new investors who valued our strategy and process for creating strong returns.”
John Compall, Partner, added, “Being able to have a one and only close fundraise demonstrates a strong endorsement of our team, sourcing strategy, value creation approach and performance. We look forward to a long relationship with all of our limited partners.”
M2O Private Fund Advisors (“M2O”) served as placement agent, while Kirkland & Ellis LLP served as legal counsel. “The M2O team did an outstanding job getting us in front of many high-quality investors prior to COVID-19 events,” said Marc McManus, Partner. “They kept everyone focused during the transition to virtual meetings, prepared investors for a Q3 launch, and did an outstanding job bringing everything to completion in today’s virtual environment,” added Chris Geneser, Partner and CFO.
With the closing of Fund VI, CIVC is also announcing the promotion of Doug Potters to Partner. Doug joined CIVC in 2011 and has been heavily involved with the investments in Ground Penetrating Radar Systems, Magna Legal Services, Yellowstone Landscape, KPA, and Equipment Transport.
“Having witnessed the value Doug added while working with him on KPA and Magna Legal Services, his promotion was well earned. Doug’s promotion to Partner further strengthens our investment team, which has worked together an average of almost 18 years,” said Scott Schwartz, Partner. “Doug will be a key figure in the future of CIVC as he networks with business owners and management teams to create investment opportunities for Fund VI and beyond,” added JD Wright, Partner.
About CIVC Partners, LP (www.civc.com)
CIVC Partners is a Chicago-based private equity firm investing in high growth middle market companies in the business services and financial services sectors. Since 1989, the team has invested over $1.8 billion in 68 platform companies and over 100 add-on acquisitions. More information on CIVC Partners and its portfolio companies can be found at www.civc.com.
About M2O Private Fund Advisors
Founded in 2012, M2O is a leading placement and advisory firm offering a comprehensive suite of capital raising and secondary advisory to private fund managers and investors. The firm specializes in customized advisory and capital raising assignments tailored to address the specific needs of each client. M2O has advised on over 50 transactions representing over $15 billion of capital raised. For more information about M2O, please visit www.m2ollc.com.
About Kirkland & Ellis LLP
Kirkland & Ellis is an international law firm with more than 2,700 attorneys representing clients in private equity, M&A and other complex corporate transactions, litigation and dispute resolution/arbitration, restructuring, and intellectual property matters. The firm is a global leader in providing sophisticated advice to investment fund sponsors, institutional investors and other market participants in the alternative investment fund space, with more than 440 dedicated Investment Funds attorneys.