Sterling Partners Raises $1B P.E. Fund

Jun 20 2007 | 8:35am ET

Middle-market buyout shop Sterling Capital Partners recently held a first and final closing of Sterling Capital Partners III with $1 billion in limited partner commitments.

Capital for SCP III was provided by fund-of-funds, pension funds, endowments, and foundations. Portfolio company executives and the Sterling’s investment professionals also made “significant” contributions to the firm’s latest fundraising efforts, according to the firm.

SCP III will invest in companies across high-growth industries, including education, healthcare services, direct marketing, business services, financial services, and specialty manufacturing and distribution. The firm generally looks at control investments in companies, investing anywhere from $15 to $100 million in equity per company.

Sterling Partners was founded in 1983 and currently manages some $2.5 billion in capital.

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