Odyssey closes sixth buyout fund with $3.25bn

New York-based Odyssey Investment Partners announced the closing of its oversubscribed sixth investment fund with $3.25 billion.

Odyssey Investment Partners Fund VI was formed to pursue control-oriented investments and management buyouts of established middle-market companies.

The firm’s target sectors include aerospace, defense, insurance services, safety & testing, automated equipment & components, industrial services, equipment rental, pharma services, energy services and packaging.

Odyssey’s previous fund closed in 2014 with capital commitments of $2 billion. Officials added that the offering was oversubscribed and closed at its hard cap thanks to significant add-on investments from existing investors and several new institutional investor commitments.

The firm also announced a number of promotions adding that Odyssey will continue to be led by Senior Managing Principals Brian Kwait (CEO), William Hopkins (Vice Chairman) and Stephen Berger (Chairman). Meanwhile, Jeffrey McKibben and Craig Staub have been promoted to senior managing principal positions at the firm.

In addition, Jason Cowett, Jonathan Place and Jeff Moffett have been named managing principal, joining Rob Aikman, Doug Hitchner, Dennis Moore and Brian Zaumeyer. On average the senior leadership team represents 16 years experience at the firm, which was established 25 years ago.

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