Carousel Capital Hits $400M Hard Cap on Oversubscribed Fifth Fund

Jan 9 2017 | 6:34pm ET

Carousel Capital has raised $400 million in capital commitments for its fifth buyout fund, easily surpassing its $300 million target and closing at its hard cap. 

The new fund, named Carousel Capital Partners V, was heavily oversubscribed and closed in just over three months, the company said in a statement. As with its predecessor funds, Fund V will focus on acquiring non-cyclical, growth oriented companies headquartered in the Southeastern United States within its three targeted sectors: business services; consumer services; and healthcare services.

Carousel received strong support from its existing investors and attracted a diverse group of new institutional investors to the fund including pension funds, endowments, foundations, insurance companies and other established institutional investors. 

In keeping with Carousel’s tradition of including a select group of CEOs of companies across the Southeastern United States as investors, the fund included an offering to this group which was fully subscribed. These CEO investors serve to deepen Carousel’s relationship network throughout the Southeast.

Credit Suisse Securities acted as exclusive advisor and placement agent for Fund V, while Latham & Watkins served as legal counsel, the company said. 

Founded in 1996 and headquartered in Charlotte, NC, Carousel Capital is a private investment firm that invests in companies located in the Southeastern United States. Since inception, Carousel has invested in 36 companies primarily in three targeted growth sectors: business services; consumer services; and healthcare services.

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