Webster Capital has closed its oversubscribed fourth fund at a hard cap of $875 million, beating its $650 million target. Webster Capital IV will focus on investing in branded consumer and healthcare services companies in the North American lower-middle market. Campbell Lutyens was the placement agent while Ropes & Gray LLP acted as legal counsel.
Waltham, MA, August 30, 2018 – Webster Capital (“Webster”) is pleased to announce the final closing of its latest fund, Webster Capital IV (the “Fund” or “Webster IV”) at its hard cap of $875 million, exceeding its initial target of $650 million. The Fund will allow Webster to continue to pursue its successful strategy of investing in branded consumer and healthcare service companies across the North American lower middle market.
The fundraising was oversubscribed and received commitments from both new and returning limited partners, including leading institutions from Europe, North America, Asia and Australia. Webster’s previous fund, Webster Capital III, closed in 2015 on $416 million.
Webster IV has already made three new platform investments with a fourth under contract and scheduled to close by 9/30/18.
David Malm, Managing Partner of Webster, commented: “We are enormously appreciative of our investors’ trust and strong support of Webster IV. We have an excellent team that is working to continue generating favorable returns for our investors.”
Campbell Lutyens acted as exclusive global placement agent for the offering and Ropes & Gray LLP acted as legal counsel.
Founded in 2003, Webster Capital provides equity financing, strategic and operating expertise and a broad network of operating executives in support of management buyouts. The Webster team, along with its network of operating advisors, is highly collaborative, working with management to identify break-out strategies which combined with operating improvement initiatives will deliver sustained high revenue and EBITDA growth.