CORE Industrial Partners LLC said Feb. 20 that its debut fund closed on $230 million, exceeding its $225 million hard cap. Investors include university endowments, insurance companies, public pensions, corporate pensions, foundations, asset managers, family offices, and fund of funds. Winston & Strawn provided legal counsel. Sixpoint Partners served as placement agent.
CORE Industrial Partners Closes Inaugural Investment Fund at $230 Million
Fund oversubscribed; exceeds initial hard cap
CORE Industrial Partners LLC (“CORE”), an industrials-focused private equity firm based in Chicago, announced today the successful final close of CORE Industrial Partners Fund I (the “Fund”) with total commitments of $230 million. The Fund was significantly oversubscribed with demand in excess of an initial target of $200 million and initial hard cap of $225 million.
The Fund’s limited partners come from a diversified base of institutional investors including leading university endowments, insurance companies, public pensions, corporate pensions, foundations, asset managers, family offices, and fund of funds.
“We are enormously honored and humbled by the overwhelming interest in our inaugural fund,” said John May, Founder and Managing Partner at CORE. “We credit this milestone to the track record of our experienced team of investment and operational professionals, and our investment strategy focused solely on lower middle market industrial businesses. We are incredibly appreciative of the support received from our world-class group of limited partners and look forward to the continued execution of our operationally driven value creation playbook by pursuing attractive investment opportunities that will realize significant value for all our stakeholders.”
The investment period has commenced, and the Fund has already made multiple investments. Winston & Strawn provided legal counsel. Sixpoint Partners served as placement agent.
ABOUT CORE INDUSTRIAL PARTNERS:
CORE Industrial Partners is a Chicago-based private equity firm investing in North American lower middle-market manufacturing and industrial technology businesses. CORE partners with business owners and management teams to acquire companies with revenues up to $200 million, and transaction sizes up to $150 million. CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience and a proven track record of building market-leading businesses. For more information, visit https://protect-us.mimecast.com/s/yWE1CJ6EYRS8ploohVih1o?domain=coreipfund.com.