Wynnchurch Capital Holds First Close

Wynnchurch Capital Partners has held a first close on its third fund, Wynnchurch Capital Partners III LP, according to an SEC filing. Fund three has a $500 million target, a jump from its $300 million second vehicle. The Chicago-based mid-market private equity firm has gathered $203.72 million in commitments from 30 investors to date. Credit Suisse is serving as the firm’s placement agent.

Wynnchurch invests in manufacturing, business services, logistics, and value-added distribution. The firm was founded in 1999 by John Hatherly, formerly of GE Capital’s Merchant Banking Group, and Richard Renaud.

Interestingly, the filing notes that Wynnchurch’s $203 million figure may not be all the firm has raised. It states: “Amount sold does not reflect additional commitments that have been received and are pending acceptance based on the Issuer receiving additional subscriptions.”

I called the firm for clarification on that and will update when I hear back.