Palladium Equity isn’t letting the crowded fundraising market stop it.
The New York-based PE firm has so far raised about $194.6 million for its fourth fund, according to a regulatory filing. Palladium has an $800 million target for Palladium Equity Partners IV LP, sources have told peHUB. Seven investors have committed to the pool, the filing says.
The filing did not name a placement agent. Palladium’s last fund raised $520 million in 2006. The pool has generated an IRR since inception of 12.59%, according to Sept. 30 data from CalSTRS.
Palladium is one of many PE firms out marketing. Catterton Partners is currently out looking to raise $1.2 billion for its seventh fund, while Clearlake Capital is seeking $600 million for its third pool. Kennet Partners is also fundraising for a $350 million growth equity fund
Palladium, which targets various Hispanic markets, invests in sectors including consumer/retail, food & beverage, as well as healthcare. The firm typically invests from $15 million to $75 million equity per deal, according to the firm’s website.
Palladium has also been shopping its portfolio company, Taco Bueno. In May, Reuters reported that North Point Advisors was hired to advise on the Taco Bueno auction. Taco Bueno has about $23 million to $25 million EBITDA and might sell for 6-7x, Reuters said at the time.
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