Vestar Capital Partners closed its seventh fund on $1.1 billion. Vestar Capital Partners VII includes a $100 million commitment from the GP. Fund VII completed two platform investments to date — IRI, which provides big data and predictive analysis for consumer, retail and media companies; and Simple Mills, a “better-for-you” foods brand.
Vestar Capital Partners, a leading U.S. middle-market private equity firm, announced today that it has closed Vestar Capital Partners VII, L.P. (“Vestar VII”) with $1.1 billion in capital commitments.
Vestar VII exceeded its $1 billion target and includes a commitment of $100 million from the General Partner and its partners and affiliates. Vestar employs a thematic approach to generate investment opportunities, leveraging its deep industry knowledge and experience to help drive transformative value creation in its three key sectors. The fund seeks to invest in profitable and growing companies in the Consumer, Business & Technology Services, and Healthcare sectors, with a focus on family- and founder-owned opportunities.
Vestar VII has already completed two platform investments to date – IRI, a global provider of big data, predictive analytics, and forward-looking insights for consumer, retail, and media companies, and Simple Mills, a leading innovative and disruptive better-for-you food brand.
Commitments came from a select group of institutional investors, a substantial majority of whom have been previous investors with the firm, and encompass a diverse mix of investors from North America, Europe, and the Middle East, including leading charitable foundations, public and corporate pensions, financial institutions, funds-of-funds, and family offices. The firm’s prior fund, Vestar Capital Partners VI, closed at $814 million in 2013, and has made 12 investments and 17 add-on acquisitions. Since its inception, the firm has raised seven private equity funds, investing $8 billion across 83 companies with a total value of approximately $50 billion.
“We are gratified by the support from many long-term investors in Vestar VII, which we believe is recognition of our successful strategy and long-term performance,” said Dan O’Connell, CEO and Founder. “Vestar’s talented investment team consistently leverages deep sector relationships to uncover overlooked opportunities, while our Vestar Resources team works closely with company management to deliver operational improvement. We thank our investors for their continued support.”
Monument Group served as placement agent for Vestar VII, and Kirkland & Ellis LLP served as legal advisor to Vestar.
About Vestar Capital Partners
Vestar Capital Partners is a leading U.S. middle-market private equity firm specializing in management buyouts and growth capital investments. Vestar invests and collaborates with incumbent management teams and private owners to build long-term enterprise value, with a focus on Consumer, Business & Technology Services, and Healthcare. Since its founding in 1988, Vestar funds have invested $8 billion in 83 companies – as well as more than 200 add-on acquisitions – with a total value of approximately $50 billion. For more information on Vestar, please visit www.vestarcapital.com.