Arsenal Capital Partners Hits $1.3B Hard Cap For Fourth Fund

Oct 13 2016 | 9:56pm ET

Arsenal Capital Partners has raised $1.3 billion in committed capital for its fourth private equity fund.

The new fund, named Arsenal Capital Fund IV LP, was oversubscribed and closed at its hard cap, according to a statement. Arsenal’s previous fund, Arsenal Capital Partners III, raised $875 million in 2012. 

Over 85% of existing institutional investors re-upped in Fund IV, the company said, including The Regents of the University of California, Northwestern Mutual, PPM America, The Eli and Edythe Broad Foundation, PKA AIP A/S, Pictet Alternative Advisors SA, SAMpension, and Unigestion SA. New institutional investors in Arsenal Fund IV include California State Teachers’ Retirement System (CalSTRS), PensionDanmark, and Sentry Insurance.

Other investors include endowments and foundations, public and corporate pension plans, financial institutions and family offices in the U.S., Europe and Asia. 

“We are delighted to have received the support of such a terrific group of leading global institutional investors,” said Terrence Mullen, co-founder and partner at Arsenal. “We are very gratified by the investors’ strong vote of confidence in the institutional quality of our firm, our leading franchises in specialty industrials and healthcare, and our track record of building high growth, high value-added companies.”

Kirkland & Ellis LLP served as legal counsel for Arsenal in the fundraising, the company said.

Founded in 2000 and based in New York, Arsenal Capital Partners invests in lower middle-market specialty industrial and healthcare companies. Since inception, Arsenal has raised institutional equity investment funds totaling $2.975 billion, has made 34 platform investments and completed 21 realizations since inception.

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