ICV Partners closes $400 mln for third fund

ICV Partners has raised $400 million in the final close of its third fund. Its LPs include return backers of previous funds as well as corporate family offices and public pension funds. MVision served as a placement agent.


NEW YORK, May 28, 2014 – ICV Partners (ICV), a leading investment firm focused on lower middle market companies, announced today that it has successfully completed the final closing for ICV Partners III, L.P. (ICV III) with $400 million of committed capital.
Willie Woods, President of ICV Partners, said, “We are very pleased to have met our target for Fund III as a result of the strong support from a majority of our existing investors, and are very pleased to welcome a highly regarded set of new investors to ICV.
Fund III is a testament to the talented and experienced team that we have built over 16 years and our firm’s teamwork and collaborative nature has proven to be a successful model that consistently builds value for our investors.”
Fund III will continue the investment strategy ICV has pursued since inception, providing operational and financial support to small businesses and their entrepreneurial management teams to improve the performance of lower middle market companies.
Investors in ICV III consist of a majority of returning investors from ICV’s initial funds and a broad new group of domestic investors that include corporate, family offices and public pension funds.
Lloyd Metz, Managing Director of ICV, said, “Fund III positions us well to continue to identify attractive investment opportunities with our team of 11 investment professionals and to partner with high quality management teams to build market leading companies. We are excited about the performance of our current portfolio of companies and are enthusiastic about the prospects for Fund III.”
ICV’s previous fund was raised in 2006 with $313 million of committed capital.
The firm now manages a total pool of capital of nearly $850 million.
ICV was assisted by MVision as a placement agent.
About ICV Partners
Founded in 1998, ICV Partners is a leading private investment firm that supports management leaders of strong companies at the lower end of the middle market. The principals of ICV have crafted a strong track record of helping companies improve performance over the long term and across a variety of industries. ICV seeks to make control investments in market leading businesses with $25 million to $250 million in revenue. Additional information is available at www.icvpartners.com.